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Marqeta Makes First-ever Acquisition with Purchase of Two-year-old Fintech Startup

Marqeta is set to make its first acquisition in its 13-year existence as it agreed to purchase fintech startup Power Finance in a $223 million all-cash deal. So reports TechCrunch.

The deal also includes a potential additional $52 million for the burgeoning fintech infrastructure company if certain undisclosed conditions are met. Approximately 33% of the purchase will be paid over the next two years, and “most” of Power’s 30 employees are expected to be absorbed by Marqeta in the acquisition.

Read the full article from TechCrunch.

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