Technology startup offers personalized and print boutique-quality greeting cards
Card Isle was founded in 2013 by three Virginia Tech engineering students passionate about making greeting cards more personal, accessible and fun! www.cardisle.com
Card Isle www.cardisle.com
Richmond, VA, Oct. 12, 2020 (GLOBE NEWSWIRE) — The Center for Innovative Technology (CIT) today announced that the Virginia Founders Fund (VFF) has invested in Card Isle, a Blacksburg, Va.-based technology company that is rethinking how greeting cards can be distributed in a changing retail landscape. Card Isle offers turnkey solutions to design, order, and print personalized greeting cards, and will use this capital from VFF to continue their rapid growth in the eCommerce gifting sector and develop new markets.
Greeting cards have a unique ability to connect people
Mastercard Inc. MA made an undisclosed investment in the fintech company named Marqeta, which instantly issues cards and processes card payments with its open Application Programming Interface (API) platform.
The financial technology startup helps young companies including digital-only issue payment cards. These cards can be both virtual and physical debit or credit cards. Apart from issuing its own cards, the company enables businesses to process credit and debit card payments.
Since 2010, Marqeta quietly established itself as the underlying tech provider for businesses and digital-only banks in issuing them payment cards. As the entity looks to expand internationally and sign up customers around the globe, it received a strategic investment from Mastercard. The infusion of cash will streamline the company’s global network certification process, which is crucial since it determines the providers who can process payments through Mastercard’s network. The two companies have been working together since 2014 in Europe
The California-based FinTech, whose open API platform enables companies like Square, DoorDash and Instacart to issue credit and debit cards and process payments, announced Thursday (Oct. 8) that Mastercard will “make a financial investment” as the two companies look “deepen their global partnership.”
The amount of the investment was not disclosed.
However, the card issuing platform said the infusion of cash will help it speed up its international expansion, in particular by “streamlining its global network certification process.”
That certification, in turn, is crucial since it determines which providers can process payments through Mastercard’s network, the two companies noted in a press release on their expanded partnership.
“With a shared vision to provide innovative and flexible financial products and solutions to our customers, we’re thrilled to
has invested in Marqeta, a card-issuing platform, as it extends its partnership with the fintech.
Financial terms weren’t disclosed. Marqeta provides API technology that helps companies like Square (ticker: SQ), Instacart, and DoorDash issue cards, including debit or credit, and process payments for their customers.
Since 2014, Marqueta and Mastercard (ticker: MA) have worked together helping fintechs and digital banks across North America and Europe bring card products and programs to market, the statement said. With Mastercard’s help, Marqeta will expand into new geographies, beginning with the Asia Pacific. The two companies also will collaborate to provide open access to Mastercard products for Marqeta customers, a statement said.
“Mastercard’s investment in Marqeta is a significant validation of the power of modern card issuing and the strength of our technology,” said Jason Gardner, founder and CEO at Marqeta, in the