Visa invests in Very Good Security (VGS), which helps fintech companies better protect their data
In Brief:
- VGS works with startups like Brex and Petal to hide sensitive data and swap it for an alias of sorts.
- It helps other companies with compliance, and safely handles things like credit card numbers to protect identities.
- VGS's last funding round was a $35 million Series B led by Goldman Sachs.
What this means
Though the amount invested hasn't been disclosed, this appears to be part of a developing strategy by Visa to bulk up its offering through FinTech acquisitions and investments. The financial giant has invested in more than 40 FinTechs.
