Marqeta acquires financial technology startup Power Finance for over USD 223M


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Marqeta Inc. has announced its intention to acquire Power Finance Inc. for USD 223 million in cash. Power Finance is a financial technology startup that emerged from stealth mode last year.

Within a year, Power Finance intends to reach that accomplishment. The startup received USD 300 million in credit facilities and USD 16.1 million in seed funding from investors prior to the acquisition. Marqeta, a company based in Oakland, California, listed its shares on the Nasdaq in 2021 after raising USD 1.2 billion in an IPO.

It runs a platform that enables businesses to give their clients and workers branded payment cards. In the third quarter, it made USD 192 million in revenue, which is 46% more than it did at the same time last year.

Read More: Marqeta acquires financial technology startup Power Finance in $223M+ deal

TalkFintech Bureau
TalkFintech Bureau
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


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