-
The company has appointed PayPal veteran Marcin Glogowski as SVP, European managing director and UK CEO, responsible for leading Marqeta in the region.
-
Marqeta has seen strong traction in the European market, with total processing volumes in Europe growing 86% year-over-year.
Amsterdam, 4 June 2024–(BUSINESS WIRE)–Marqeta (NASDAQ: MQ), a global modern card issuance platform enabling embedded financial solutions for innovators around the world, today announced the appointment of PayPal veteran Marcin Glogowski as SVP, Managing Director of Europe and UK CEO, who will lead Marqeta in the region. The company has seen significant growth and momentum in its European operations driven by increasing demand for embedded financial services that enable businesses to embed financial services directly into their branded experiences. The company saw an 86% increase in total processing volume in Europe from Q1 2023 to Q1 2024.
Marqeta partners with market-leading organizations in Europe, including Klarna, Uber, Western Union, Lydia, Scalapay and Capital on Tap, to expand into new markets and delight customers with card issuance and built-in financial capabilities that help increase revenue and retain customers. Marqeta's global platform enables clients to launch card products in over 40 markets with a single integration, reducing the effort and time to market for each subsequent launch. Today, 70% of Marqeta's top 10 clients use Marqeta in multiple countries.
Marcin Glogowski to lead European market development team
Prior to joining Marketa, Glogowski led the Central Eastern Europe region at PayPal, where he oversaw growth strategy and sales across 30 European markets. Prior to PayPal, he spent 10 years in strategy consulting to multinational financial services organizations in Europe and beyond. He will be based in Marketa's newly expanded London office.
“Marketa's vision for the future of brand loyalty with embedded finance at its core resonated with me very well, and the growth potential and untapped size of the European market was what motivated me to join the company,” said Marcin Glogowski, SVP, Managing Director Europe and UK CEO at Marketa. “I look forward to leading Marketa's European team as we continue to expand our business and deliver on our customers' expectations.”
“Our growing business in Europe speaks to the global popularity of our platform among fintech and embedded finance clients,” said Simon Khalaf, CEO of Marketa. “Marketa is proud to welcome Marcin to the team. He brings regional expertise that will continue to drive our business in the UK and Europe, and continue to help our clients expand and unlock new opportunities to elevate their card programs and further grow their business.”
Recent UK and European customer contracts
Marqeta also announced today that it is expanding its partnership with Lydia Solutions to power its new digital bank, Sumeria. Marqeta began working with Lydia Solutions in 2019 to power its peer-to-peer payments app and help it scale to serve 8 million users across France, Belgium, Spain and Portugal. Sumeria aims to simplify banking with an easily accessible app designed to mimic the ease of use and intuitiveness of popular consumer brands. Marqeta's platform enables these dynamic capabilities, while ensuring security and compliance, issuing tokenized virtual and physical cards to Sumeria customers with real-time views of account and transaction details.
Marqeta recently announced a partnership with UK digital bank OakNorth to offer a commercial debit card for OakNorth's business banking customers. With Marqeta, OakNorth customers will have access to a comprehensive suite of everyday business banking services, enabling them to get a holistic view of their finances and track their spending more efficiently with the speed, flexibility and reliability of Marqeta's modern platform.
In late 2022, Marqeta signed with Trade Republic, Europe's largest broker and leading savings platform headquartered in Germany, which is leveraging Marqeta to deliver an innovative consumer debit card that combines spending and savings for its 4 million customers across 17 markets.
About Marqeta (NASDAQ: MQ)
Marqeta's modern card issuance platform empowers customers to create customized, innovative payment cards and embedded financial services. Powered by open APIs, Marqeta's platform enables customers to build more configurable and flexible payment experiences, accelerating product development and democratizing access to card issuance technology. Its modern architecture provides instant access to a highly scalable, cloud-based payments infrastructure, enabling customers to launch and manage their own card programs, issue cards, and accept and settle transactions. Marqeta is headquartered in Oakland, California and is certified to operate in over 40 countries worldwide. For more information, please visit www.marqeta.com. twitter And LinkedIn.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotes and statements regarding changing consumer preferences, increasing consumer adoption of certain digital payment methods, products and solutions, the potential success of payments, banking and financial services products and solutions, technology and market trends, Marqeta's operations and growth, Marqeta's products and services, and statements by Marqeta's senior management. Actual results may differ materially from the expectations contained in such statements due to risks and uncertainties, including factors that give rise to challenges associated with changing domestic and international business, market, financial, political and legal conditions, and the risks and uncertainties contained under “Risk Factors” in Marqeta's Annual Report on Form 10-K, as they may be updated from time to time in Marqeta's periodic filings with the SEC, available at http://www.sec.gov/. Click here for details Marketa's website Click here for detailsThe forward-looking statements in this press release are based on information available to MARQETA as of the date hereof, and MARQETA assumes no obligation to update any forward-looking statements, except as required by law..
View source version on businesswire.com: https://www.businesswire.com/news/home/20240603635345/en/
contact address
media:
James Robinson
530-913-0844
inquiry
