Payments startup Marqeta is going public on the Nasdaq on Wednesday June 9, trading under ticker symbol MQ.
You can purchase whole shares when the market opens and fractional shares will be available later today.
Capitalising on a boom in online shopping and food-delivery transactions during the COVID-19 pandemic, the company is valued at approximately $15.23 billion and aims to sell about 45.5 million shares at $27 per share.
Here is how you can buy shares
The stock can be found under the ticker symbol MQ.
Please note that orders can only be placed as Limit Orders until regular trading commences after the opening auction.
We remain at your disposal for further assistance. You may get in touch with us on +356 25 688 688 or via live chat through the Moneybase Invest app.
California-based Marqeta was established to develop a platform that would digitise commercial payments between businesses and their customers via its open APIs. As a result, its modern card issuing platform provides infrastructure and tools to help companies issue cards, including debit and prepaid cards, while it also processes payments for their customers.
Marqeta’s customers include Uber Technologies (UBER), food delivery company DoorDash (DASH), Square (SQ) and others. Around 73% of its net revenue in the three months ending on March 31, 2021 came from Square. Meanwhile, the company’s revenue jumped more than two-fold in 2020 to $290.3 million as homebound customers shopped more online. In addition, in May last year, Marqeta doubled its valuation to $4.3 billion when it raised $150 million in funding.
Operating in the U.S., Canada, Europe and Australia and certified to process payment in 10 countries in the APAC region, the Marqeta platform processed $60.1 billion of total processing volume, an increase of 177% from 2019's result.
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