Marqeta Appoints Patti Kangwankij as Chief Financial Officer to Drive Growth and Profitability

Introduction

Marqeta, Inc. — the Oakland-based modern card issuing and payments platform listed on Nasdaq (NASDAQ: MQ) — has announced a major leadership appointment with Patti Kangwankij named as its new Chief Financial Officer, effective February 9, 2026. The move comes at a crucial juncture as the company sharpens its focus on growth, profitability, and strategic expansion in the embedded finance and card issuing ecosystem.

Kangwankij succeeds Mike Milotich, who previously held dual responsibilities as both CFO and CEO after being appointed Chief Executive Officer in September 2025.

Patti Kangwankij: A Finance Leader with Deep Payments Expertise

Marqeta’s new CFO brings more than 20 years of experience across finance, technology, and global payments industries — making her a strong fit to lead the company’s financial strategy during its next chapter of growth.

Prior to joining Marqeta, Kangwankij served as Chief Financial Officer at Roofstock, a technology-enabled real estate investment platform. She also held senior leadership roles at Stripe, where she was Head of Payments Finance and Strategy — helping scale financial operations during a period of rapid expansion — and spent nearly 15 years at JPMorgan Chase & Co., rising to Managing Director and CFO for both the Co-Branded Credit Card and Merchant Services businesses.

This blend of fintech, payments, and big-bank experience gives Kangwankij a unique perspective on managing growth finance, scaling international operations, and deepening strategic partnerships — all critical as Marqeta navigates competitive pressures and evolving market opportunities.

Marqeta’s Strategic Rationale

Marqeta’s decision to recruit a finance executive with Kangwankij’s industry pedigree reflects several underlying priorities for the company:

1. Focus on Profitability and Growth

Marqeta has been pursuing initiatives to enhance profitability, diversify revenue, and strengthen operational discipline as competition in the card-issuing and embedded finance market intensifies. The role of CFO is central to managing cash flows, capital allocation, and investor expectations in this phase.

2. Strong Payments Leadership

With Kangwankij’s background in payments — especially her time at Stripe and JPMorgan — Marqeta gains a leader who understands not just financial operations but also the dynamics of global payments products, revenue drivers, and risk-return frameworks.

3. Support for Platform Expansion and Innovation

Marqeta has been actively expanding its footprint beyond core markets, particularly in Europe and Asia, while also enhancing its platform capabilities for embedded finance, digital banking partners, and payment service integrations. Kangwankij’s leadership is expected to help guide financial planning in support of these strategic moves.

Comments from Leadership

Upon the announcement, Marqeta’s CEO Mike Milotich — who will continue to lead the company — commented that Kangwankij’s deep payments industry knowledge and financial leadership will be “a critical asset” as Marqeta executes its strategy, scales its platform, and pursues opportunities in global card issuing and embedded finance.

Kangwankij also expressed enthusiasm about joining Marqeta at what she described as a “pivotal moment,” highlighting the company’s technology foundation, customer focus, and growing partner ecosystem as key draws.

Context: Marqeta’s Business Landscape

Marqeta’s financial performance and operational strategy have been in focus as the company balances growth with profitability pressures — a challenge faced by many fintechs amid tightening capital markets and intensifying competition from both legacy banks and next-generation payment platforms.

Despite encountering profitability challenges, the company’s shares have shown resilience, with more than a 25% share price increase over the past year, signaling investor confidence in its business model and future prospects.

Marqeta’s platform enables businesses to build and embed financial services into their branded experiences, and it processed nearly $300 billion in annual payments volume in 2024, reflecting its scale and relevance in the global digital payments ecosystem.

Looking Ahead: Leadership and Financial Strategy

With Kangwankij at the helm of financial operations, industry watchers will be looking for how Marqeta:

• Strengthens profit margins while expanding its customer base.
• Leverages strategic partnerships with major players in fintech and payments.
• Manages liquidity and growth investments in new markets and technologies.
• Supports innovation in embedded finance, such as tokenized cards and API-driven payment flows.

Her appointment represents a clear corporate signal that Marqeta is doubling down on disciplined financial stewardship while pursuing broader strategic ambitions.

Conclusion

Marqeta’s appointment of Patti Kangwankij as CFO underscores the company’s commitment to robust financial leadership amid an evolving fintech and payments landscape. With her extensive background spanning fintech, traditional banking, and payments strategy, Kangwankij is poised to lead Marqeta’s financial organization into its next phase of growth and operational refinement.

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