FinTech Plaid Inc has announced investments from Visa and Mastercard.
In Brief:
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The two payment giants took part in a $250mn Series C funding round in December.
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Plaid allows bank accounts to be connected to external mobile apps.
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The company has gained a total of $310mn financing so far.
What does this mean?
The fundraise which closed months ago left Plaid with a valuation of $2.65bn. As of yet it’s unclear how involved Visa and Mastercard will be with the business, but they will work together at the “intersection of payments and data access”.
