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Marqeta has priced its share offering higher than originally anticipated. As has been widely reported, Marqeta will IPO at $27/share above the estimated $21 to $24 a share posted in the S-1 filing.
The higher share price will place a valuation on the Fintech at around $15 billion. In 2020, Marqeta raised private capital at a valuation of $4.3 billion a significant increase. Shares will trade on the Nasdaq under the ticker symbol “MQ.” According to the most recent S-1, Marqeta should raise around $1.4 billion in the securities offering.
Marqeta is one of a host of top Fintechs that have gone public or are planning to go public in 2021. The digitization of financial services has boomed in recent years – a trend that should continue for the foreseeable future.
Marqeta is a “modern card issuer” that streamlines a process that has existed for years.
The strength and durability of our Customer relationships are evidenced by our year-over-year net revenue growth of 103% for the year ended December 31, 2020, and our dollar-based net revenue retention1 of over 200% for each of the years ended December 31, 2019, and 2020.
In the three months ended March 31, 2021, Marqeta processed $24.0 billion up 167% from $9.0 billion in the three months ended March 31, 2020.
In 2020, the Marqeta Platform processed $60.1 billion up 177% from $21.7 billion in 2019. This is less than 1% of the annual $6.7 trillion transaction volume conducted through U.S. issuers in 2020.
Total net revenue was $143.3 million and $290.3 million for the years ended December 31, 2019 and 2020, respectively, an increase of 103%.
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