Payments startup Marqeta valued at over $17 billion in Nasdaq debut

Marqeta logo is seen on a smartphone in front of displayed stock graph in this illustration picture taken June 9, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) -Shares of Marqeta Inc, which provides payments services to customers including Uber Technologies Inc and DoorDash Inc , rose more than 20% in their Nasdaq debut, giving the firm a market capitalization of over $17.2 billion.

The financial technology startup's stock opened at $32.50 on Wednesday, compared with its initial public offering (IPO) price of $27 per share. Marqeta's IPO was priced well above its target price range of $20 to $24 per share.