Currency.com adds tokenised shares of fintech startup Marqeta after IPO
California-based fintech startup Marqeta has gone public. The company listed 45.45 million shares.
On June 8, the IPO of the American fintech startup Marqeta took place on the NASDAQ stock exchange. Now tokenised shares of the company under the ticker MQ are available to trade on the Currency.com platform.
Marqeta listed 45.45 million ordinary shares at $27 a share - significantly higher than the target listing price of $20-$24.
At the end of the first day of trading, the company's market capitalisation was about $15bn. The leading underwriters of the listing were Goldman Sachs and JP Morgan.
Marqeta helps companies issue credit and debit cards for their employees. The company’s clients include Uber, Square, Instacart and DoorDash.
Last year, Marqeta saw significant revenue growth triggered by the pandemic. Companies around the world have moved to e-commerce and digital payments. Marqeta's revenue for 2020 was $290.3m, a big rise on $143.3m for 2019.
As with any IPO, you should always remember that post-listing prices can be volatile and caution should be exercised when trading.