Gunderson Dettmer client Coatue Management has led the $260 million Series E financing of Marqeta, the leading global modern card issuing platform. The round brought the company’s valuation to nearly $2 billion. Other investors participating in the round included Vitruvian Partners, Spark Capital, Lone Pine Capital and Geodesic.

In the announcement of the funding Coatue Management partner Kris Fredrickson said, “We’re incredibly excited to be partnering with Marqeta. We believe that the company has a world class team, industry leading technology, and the ability to bring about profound change in card issuing and the global payments infrastructure. The company’s momentum over the last several years is a testament to the team’s hard work and the scale of the opportunity at hand.”

The Gunderson Dettmer team was led by Greg Volkmar and included Katie Gardner, Tyler Mann, Lale Uner and Alex Khachaturian.