Important new acquisition in the territory FinTech: the giant Visa he just got his hands on it Plaid, a company founded eight years ago in Silicon Valley. An operation valued at 5.3 billion dollars.
Visa announces the acquisition of Plaid
Among the products offered by Plaid, a service that allows startups to connect the applications created to users' bank accounts in a safe and reliable way: this is what it does for example Venmo, a very popular overseas peer-to-peer payment platform, as well as Robinhood dedicated to investments and some exchanges for cryptocurrencies, Coinbase is Gemini over all.
Among those who first believed in the Plaid project by investing money and resources also MasterCard, the competitor of Visa by definition, together with Citi, Goldman Sachs and American Express. To date the platform connects to approx 11,000 banks all over the world, reaching beyond 20 million accounts, benefiting from a territorial expansion that in recent years has crossed the US borders to reach Canada and the United Kingdom. Its future further penetration into Europe cannot be excluded. These are the words of Zach Perret, CEO of the acquired company, entrusted to the editorial staff of the site CNBC.
We are fortunate to have been present since the early days of the FinTech sector, helping to develop the ecosystem. Today is an important milestone and the possibility of collaborating with Visa will help to improve and further grow our products, nationally and internationally.