Marqeta, an Oakland, California-based payment card issuing platform, has raised $150 million in a funding round from a major institutional investor and the investment values the firm at $4.3 billion. 

Marqeta will use the funding to accelerate product development and international growth, according to a press release.

"Marqueta continues to move forward from strength to strength in 2020 as our global modern card issuing platform provides essential infrastructure and support to our customers across industries and oceans," Jason Gardner, founder and CEO of Marqueta, said in the release. "We're building a single global platform to define and power the future of money for the world’s leading innovators."

The company has some of the biggest names in the gig economy and fintech among its customer base, including Uber, Instacart, Square, Affirm and DoorDash.