Marqeta, Payments Platform Behind Facebook Card, Closes $14M Funding Round

The payment platform behind the Facebook Card, plastic gift cards that hold all electronic gift cards users have received through the social network, introduced in January, received a different type of payment, as Marqeta Thursday announced the closing of $14 million in series-B funding.

Existing investors Greylock Partners’ Greylock IL and Granite Ventures were joined by new investor Commerce Ventures and new angel and unnamed strategic investors in the funding round, and Marqeta said the funds would be used to introduce new platform features and aggressively expand its national footprint.

Marqeta’s +M Platform allows Facebook Card users to purchase multiple Gifts, manage their balances, and add funds via mobile, tablet, or desktop, and each Facebook Card can hold multiple balances from retailers participating in Gifts.

Marqeta Founder and CEO Jason Gardner said:

Marqeta has worked hard to create and commercialize the first multi-account commerce and payments platform accessible via a single card. We are very proud that Facebook has adopted our technology, and look forward to a lasting partnership with them.

Since our launch in 2010, Marqeta’s technology has advanced significantly, leading to new national partnerships and successful adoption of our +M Platform. This new round of funding will help us push further into the payments ecosystem with our network-of-networks approach to merchants, consumers, and enterprise partners.

Readers: Have you ever used Facebook Cards?

Related Stories
Mediabistro Course

Facebook Marketing

Facebook MarketingStarting Janaury 13, work with the group marketing manager of social media at Microsoft/BingAds to build a fan base and grow your business on Facebook! In this course, Geoffrey Colon will teach you how to set up and enhance your company page, understand best practices and measuring your success, execute a monthly content strategy, and incorporate Facebook into your overall marketing efforts. Register now!