Marqeta Announces Marqeta Cares Program, 10-Year Equity Commitment To Drive Charitable Giving
The modern card issuer will commit 400,000 company shares over ten years to fund its Marqeta Cares program and announced support for an initial group of nine US- and UK-based nonprofits.
OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta, the global modern card issuing platform, announced today the creation of its Marqeta Cares program, with an ongoing commitment of 400,000 company shares over the next ten years to fund the program, which will be dedicated to philanthropy in the communities Marqeta operates in globally, and has committed more than $300,000 in initial support toward a group of nine nonprofits for 2021.
“The communities that we work in every day are of primary importance to Marqeta. As we’ve grown into a global company, we want to have a significant positive impact in the world, especially in the communities that we are a part of,” said Jason Gardner, founder and CEO of Marqeta. “Marqeta Cares has always been a company value for us, and we’re excited to establish it now as its own well-resourced program dedicated to making a meaningful difference in our communities. From the Black Lives Matter movement, to the significant disruption to America’s tradition of welcoming immigrants, and the massive global upheaval brought about by the COVID-19 pandemic, right now it is more important than ever for companies like Marqeta to stand up and support people and communities in need.”
The Marqeta Cares program will look to support the creation of inclusive communities and help build pathways to economic growth, with a specific focus on helping youth from underrepresented and underserved backgrounds.
Marqeta Cares has already committed more than $300,000 in donations for 2021 to an initial selection of nine nonprofits, focusing on Oakland nonprofits with a national footprint, or United Kingdom based groups. These nonprofits have a mission and vision that is aligned to addressing the education gap, increasing access to technology, and creating pathways to meaningful careers for underserved youth. For 2021 these groups are The Hidden Genius Project, College Track Oakland, OneGoal Bay Area, Code Nation Bay Area, Network for Teaching Entrepreneurship, Beyond 12, Ever Forward Club, IntoUniversity, and Blueprint for All.
"The Hidden Genius Project, which trains and mentors Black male youth in technology creation, entrepreneurship, and leadership skills to transform their lives and communities, is honored to partner with the Marqeta Cares program to support our youth,” said Denzel Russell, Communications Manager at The Hidden Genius Project. “Marqeta's investment in The Hidden Genius Project will help us continue to scale the impact, services, and training our Intensive Immersion and other programs offer to empower our young people, fuel their passions, and fight for racial equity."
"College Track's mission calls us to disrupt historical injustice, racism, and systemic oppression through the power of higher education. We are proud to welcome Marqeta to our community of partners that share our commitment to educational justice,” said Marshall Lott, Deputy Executive Director of College Track. “Their commitment marks the beginning of a long-term, holistic partnership to support first-generation students of color from low-income Oakland communities in achieving opportunity, choice, and power."
Marqeta is the modern card issuing platform empowering builders to bring the most innovative products to the world. Marqeta provides developers advanced infrastructure and tools for building highly configurable payment cards. With its open APIs, the Marqeta platform is designed for businesses who want to easily build tailored payment solutions to create best-in-class experiences and power new modes of money movement. Marqeta is headquartered in Oakland, California. For more information, visit www.marqeta.com, Twitter and LinkedIn.