Marqeta is filing to go public and announces impressive growth numbers

API-based issuer-processor Marqeta recently filed paperwork for an initial public offering with the Securities and Exchange Commission (SEC), per CNBC. Marqeta offers companies open APIs that they can plug into their platforms for things like digital card issuing, transaction authorization, and fraud prevention. In its S-1, Marqeta revealed key insights into its business: Last year, its total processing volume (TPV) reached $60 billion, up 177% from 2019. Its annual revenues more than doubled to $290.3 million, but losses reached $47.7 million. It also said it operates in 36 countries and that it has issued more than 320 million cards to date.