M&A Deal Summary

Marqeta Acquires Power

On January 30, 2023, Marqeta acquired financial services company Power for 275M USD

Acquisition Highlights
  • This is Marqeta’s 1st transaction in the Financial Services sector.
  • This is Marqeta’s largest (disclosed) transaction.
  • This is Marqeta’s 1st transaction in the United States.
  • This is Marqeta’s 1st transaction in New York.

M&A Deal Summary
Date 2023-01-30
Target Power
Sector Financial Services
Buyer(s) Marqeta
Deal Type Add-on Acquisition
Deal Value 275M USD

Target

Power

New York, New York, United States
Power is a credit card issuer built on modern tech, from the ground up. The company's cloud-native platform is tailored to meet the needs of high-growth brands that use Power, providing them with solutions that have not been supported in the past. Power is based in New York, New York.

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Buyer(S) 1

Buyer

Marqeta

Oakland, California, United States
Category Company
Founded 2010
Sector Financial Services
Employees771
Revenue 676M USD (2023)
DESCRIPTION

Marqeta is a prepaid debit and credit card platform that enables issuers to easily launch card programs with cards that have a high level of control and customization. The company provides end-to-end program management solutions for enterprises and is an integrated payment processor for established financial institutions. Marqeta was founded in 2010 and is based in Oakland, California.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
Mergr

Product

Company

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