Marqeta Scoops Up Visa Veteran as Finance Chief

Marqeta, the quick-growing card issuing and payments processing platform, has revealed that it has a new CFO, Visa veteran Mike Milotich, who will take the reins on February 22.

The company’s current finance chief, Tripp Faix, has decided to step away after three and half years on the job to spend more time with his family. However, Faix will stay on in an advisory role until March 31 to assist the transition and participate in the company’s upcoming earnings call.

Milotich brings decades of corporate finance expertise, including almost 11 years at Visa, and most recently served as the payments giant’s SVP of Investor relations and Corporate Finance. Before that, he spent a couple of years as the Commercial Analytics Lead for PayPal’s core payments team and held various finance roles at Barclays Global Investors, American Express and Booz Allen Hamilton.

In a press release, Marqeta founder and CEO Jason Gardner highlighted Milotich’s deep payments experience and added that he has a “keen appreciation for the possibilities in front of us as a company.”

Milotich has been in the payments industry longer than Marqeta has been around and spent his career at Visa watching the startup’s rise. Milotich added that after meeting with Gardner, “I was impressed by both how well they’d scaled to date and the massive opportunity in global money movement that lies ahead of them.

Marqeta debuted on the Nasdaq this past summer and has logged consecutive positive quarters on the back of higher-than-expected processing volumes. The company expects the trend to continue in Q4 and beat its initial guidance for the full year.

The company is building on these solid financial results by furthering its international reach by opening an Asia-Pacific hub in Singapore this year. As the company continues to scale internationally, it will rely on Milotich’s institutional knowledge of the global payments industry to provide guidance and ensure its financials stay in check.