Marqeta To Acquire Power Finance, for $223M
Summary
This acquisition will allow Marqeta customers to launch a wide range of credit products and constructs. It will combine Power’s rewards engine with Marqeta’s own rewards innovations, and add in Power’s data science toolbox and ability to embed experiences inside existing mobile and web applications. Founded in early 2021 by fintech veterans CEO Randy Fernando and CFO Andrew Dust, Power provides a cloud-native platform that offers credit card program management services for companies creating new credit card programs. The company’s investors include Anthemis, Fin Capital, CRV, Dash Fund and Restive Ventures. As part of this acquisition, Power Finance CEO Randy Fernando will now lead the product management of Marqeta’s credit card platform.
Classifications
industries
Fintech & Banking
applications
Accounting and Taxes
AskAI Classifications
Labels
Payments Software
Fintech Infrastructure
API Platform
Linked Companies
Marqeta
$100M to $250M