Visa, Mastercard invest in Plaid

September 17, 2019 | Open Banking
Written by FinTech Alliance
Visa, Mastercard invest in Plaid

FinTech Plaid Inc has announced investments from Visa and Mastercard.

In Brief:

  • The two payment giants took part in a $250mn Series C funding round in December.

  • Plaid allows bank accounts to be connected to external mobile apps.

  • 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”.

Read more here.

 

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