Oakland-based transaction processing company Marqeta has secured $260 million in Series E funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced on May 21 and led by Coatue Management.
According to its Crunchbase profile, "Founded in 2010, Marqeta has re-engineered how payment cards, virtual cards and mobile authorization products should be developed and deployed. The Marqeta Platform, built from the ground up with no legacy infrastructure, provides the world’s first fully documented, open API issuer processor platform. Companies can build, issue and deploy innovative payment, finance and commerce solutions with enormous control over what, where and how purchases are authorized."
The nine-year-old company has raised five previous funding rounds, including a $45 million Series D round in 2018.
The round brings total funding raised by Oakland companies in software over the past month to $279 million. The local software industry has seen 31 funding rounds over the past year, capturing a total of $585 million in venture funding.
In other local funding news, enterprise company Allganize announced a $3.4 million Series A funding round on April 30, led by SparkLabs Ventures.
According to Crunchbase, "Allganize enables you to effortlessly search, discover and manage your cloud documents, no matter where they live. Keep your files, documents, discussions, tickets and slides right at your fingertips."
The company also raised a $1 million seed round in 2017.
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