Mastercard has announced it will acquire data aggregation business Finicity for $825mn.
In Brief:
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Finicity has been around since 1999 and has around 500 staff.
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It most recently raised $42mn in its Series B round.
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The business helps businesses and individuals make better financial decisions through access to data.
What does this mean?
Mastercard will use Finicity’s technology for its open banking platform to give people and businesses greater control over their financial data.