Briefing

The Briefing: Paymentus, Marqeta File For IPOs, AT&T Plans Spinoff, And More

The Briefing

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Paymentus files to raise up to $241.5M in IPO

Bill payment platform Paymentus has filed to go public, seeking to raise up to $241.5 million, per its IPO prospectus.

The Redmond, Washington-headquartered company posted revenue of $302 million in 2020, up 28 percent year over year, along with $13 million in net income.  Its largest shareholder and majority owner is Accel-KKR.

In addition to its Redmond headquarters, Paymentus also has a large employee presence in Toronto, Charlotte, and Delhi, India.

—  Joanna Glasner

Marqeta aims to raise up to $100M in IPO

Marqeta, an Oakland, California-based modern card issuing platform, filed with the U.S. Securities and Exchange Commission to go public via an initial public offering.

The company has raised a total of $528 million in known venture capital, according to Crunchbase data. Its last disclosed round in May 2020 valued the company at $4.3 billion. Following the IPO, Marqeta’s valuation is forecasted to be approximately $10 billion, according to PYMNTS.com.

Among the S-1 statement disclosures, Marqeta reported $350 million in fourth-quarter 2020 annualized net revenue, operates in 36 countries, and has issued more than 320 million cards to date.

— Christine Hall

AT&T plans to spin off WarnerMedia

Telecom giant AT&T said Monday that it will spinoff WarnerMedia and combine it with Discovery. Discovery CEO David Zaslav will be head of the new combined entity, according to the companies’ announcement. WarnerMedia, which includes streaming service HBO Max and CNN, is the latest media business to be spun off following acquisition by a telecom company. Earlier this month, Verizon 1said it would sell its media business to private equity firm Apollo Global Management in a $5 billion deal.

–Sophia Kunthara

Fintech and e-commerce

Moglix raises $120M: Moglix, an online marketplace for business supplies and industrial equipment, raised $120 million in a Series E round at a reported valuation of over $1 billion. Falcon Edge Capital and Harvard Management Co. led the financing for the startup, which is headquartered in Singapore and has significant operations in India.

India’s Pine Labs has first close on $285M round: India-based Pine Labs, a provider of merchant commerce tools, announced a first close for a planned $285 million funding round, backed by a long list of new and existing investors. The company says it currently serves more than 150,000 merchants across Asia and the Middle East.

— Joanna Glasner

Ankorstore inks $100M: France-based Ankorstore, a curated marketplace connecting independent brands with local retailers, brought in $100 million in Series B funding led by Tiger Global Management and Bain Capital Ventures. Ankorstore acts as an ambassador for European brands, partnering with shop owners to find and stock a variety of brands with minimal cost and risk. The company plans to use the funds to grow its base of 5,000 brands and 50,000 independent retailers across Europe, and support them through reopening.

Goldbelly chews on $100M: Goldbelly, a food e-commerce platform, announced a $100 million Series C investment, led by Spectrum Equity, to develop its at-home restaurant experience. With the new round of funding, the company will continue to scale its technology and platform operations and accelerate the onboarding of new chef and restaurant partners. It will also be used to launch new content initiatives and provide different ways for consumers to interact with their favorite foods, experiences and chefs outside of the restaurant setting.

Mamo banks $8M: Dubai-based Mamo, a digital wallet and payments platform, raised $8 million in pre-Series A funding led by Global Ventures. The company intends to use the new funding on technology and product development, as well as growing its footprint in the UAE and Saudi markets by hiring new talent.

Kaiyo bags $5M: New York-based Kaiyo, an online gently-used furniture marketplace, secured $5 million in funding led by Moderne Ventures. The funding will be used to continue its expansion and develop relationships within the Northeast’s real estate market. Kaiyo’s platform enables the buying and selling of gently-used furniture, which has helped to keep more than 2 million pounds of furniture out of landfills since its inception in 2014.

— Christine Hall

Illustration: Dom Guzman


  1. Verizon Ventures is an investor in Crunchbase. It has no say in our editorial process. For more, head here.

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