Marqeta (MQ) IPO: Is This Brand New Fintech Stock Worth A Buy?

2 min read | June 09, 2021 09:28 PM AEST | By Anuj

Image source: Kristsina Yakubovich, Shutterstock

Marqeta’s Operations & Revenue

Marqeta’s infrastructure offers its customers configurable payment solutions through card-issuing technology. Its open application programming interfaces provide access to a cloud-based payment platform that enables clients to launch and operate their card process, including card issuance, and approve and resolve payment transactions on a real-time basis. It has the license to operate its business across 36 countries.

Marqeta provides online and offline debit, prepaid, and debit cards. Its clients are tech-backed firms like Uber Technologies Inc (UBER:US, NYSE:UBER), food delivery firm Doordash Inc (DASH:US, NYSE:DASH) and grocery delivery provider Instacart Inc.

Uber is also backing the payment company by holding a stock warrant. The financial firm works in collaboration with digital payment firm Square Inc (SQ:US, NYSE:SQ) and uses its payments processor.

Marqeta’s IPO could turn out to be a blockbuster if we compare it to other newly listed fintech enterprises. These online payment companies have churned out high growth amid the pandemic crisis that pushed people to use more digital financial platforms.

In 2020, the company reported that its revenue more than doubled to US$ 290.3 million as stay-at-home orders forced customers to shop on e-commerce websites or applications.

Several payments startups such as Paymentus Holdings Inc (US:PAY, NYSE:PAY) and Flywire Corp (FLYW:US, NASDAQ:FLYW) have recently gotten listed on the US exchanges.

The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.

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