Visa’s Latest Fintech Buy Wears Plaid And Costs $5.3B

Visa has agreed to pay $5.3 billion to acquire financial technology startup Plaid, the companies announced Monday.

The acquisition, first reported by The Wall Street Journal, comes after Plaid raised more than $353 million in total funding and touted a valuation of $2.65 billion, according to Crunchbase.

Finally, the acquisition will enable Visa to work more closely with fintechs through all stages of their development and drive growth in Visa’s core business.”

So while we can’t definitively say how Plaid stacks up against the rest of Visa’s recent acquisitions, with a price tag of $5.3 billion and unicorn status, we’d guess it’s the most Visa has paid for a company in a while.

Full Article