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Visa-Backed Marqeta Targets $10 Billion Valuation in 2021 IPO

Marqeta, a payments startup backed by Goldman Sachs Group Inc. and Visa Inc., hired underwriters for a planned 2021 initial public offering, according to people with knowledge of the matter.

The Oakland, California-based company is working with Goldman and JPMorgan Chase & Co. on the listing, said the people, who asked not to be identified because the information is private. The company may seek a valuation of about $10 billion, one of them said. A valuation hasn’t been finalized and, as with any IPO, could change pending investor feedback.