With $2b valuation, Marqeta focuses marketing strategy on startups

[caption id="attachment_183380" align="alignright" width="290"] Vidya Peters, chief marketing officer, Marqeta[/caption] A company that operates quietly in the background of popular financial apps and platforms is taking steps to become more visible. While large consumer-facing fintech companies like Square, Klarna, Affirm and others tout speed and efficiency of their user experiences, card issuing and processing startup Marqeta 's technology supports their payment capabilities, with its APIs allowing them to create customized card solutions for clients. In a sphere where the enablers behind popular apps and platforms often keep a low profile, Oakland-based Marqeta appointed Vidya Peters as its first-ever chief marketing officer in September. Peters told Bank Innovation that the timing is right for Marqeta to make its brand more prominent, owing to the critical stage it's reached in its growth trajectory (it's issued 113 million cards to date), its international expansion plans and the necessity to reinforce to would-be clients the value of its customized payments capabilities. "This is an age-old space entrenched with legacy players, so you've had very fixed, inflexible payment products that companies have had to rely on," said Peters. "Marketing plays a critical role in being that bridge between product management, product development and market [outreach] -- [it's] painting the art of the possible for what innovation you can drive on the platform." To enhance its pitch to clients, Marqeta will be highlighting how customers' use of the platform is driving innovation on the product side. See also: Payments firm Marqeta to add 175 jobs to boost global presence The target for Marqeta's marketing efforts first and foremost will be startup companies looking to deploy innovative payment solutions, noted Peters. "The customers that Marqeta most resonates with are those that are trying to go to market in a very unique way," she said. "It may be a company that's trying to do just-in-time funding that can instantly issue a loan to a consumer." After startups, big tech companies are the next target for Marqeta's outreach. Tools that it is using to enhance its visibility with this audience include digital marketing efforts, commentary from executives on industrywide issues and a billboard on Highway 101, a nod to the West Coast geography where many of its U.S. customers are based. In promoting its brand presence through client stories, Peters acknowledged that some clients may be reluctant to talk openly about Marqeta as the "secret sauce" behind their success in the realm of payments. "It feels like a very intrinsic part of their competitive edge," she said. "Even though you'll see the logos on our site, it's pretty unusual for you to hear these companies speak overtly about how they've been using Marqeta to upend old business models."

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With $2b valuation, Marqeta focuses marketing strategy on startups

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