BaaS startup acquired by Fintech giant
IN BRIEF:
- The deal size is undisclosed, but Bond was valued at $182m the last time it raised in 2020
- Coatue led the company’s last round, a $32m Series A, joined by Mastercard, Goldman Sachs, Canaan Partners, B Capital Group and former Morgan Stanley CEO John Mack
- Bond’s focus has been on building APIs and software that enables commercial and consumer credit card solutions, as well as debit cards and accounts
What does this mean?
According to an internal memo by FIS viewed by TechCrunch, the FIS and Bond leadership teams “will determine how the two companies will work together,” including how FIS will bring Bond’s capabilities into FIS’s existing relationships.
