Visa is acquiring Plaid for $5.3 billion, 2x its final private valuation

Visa announced today that it is buying financial services API startup Plaid for $5.3 billion. Plaid develops financial services APIs. It is akin to what Stripe does for payments, but instead of facilitating payments, it helps developers share banking and other financial information more easily. It’s the kind of service that makes sense for a company like Visa. The startup bought Quovo two years ago to move beyond just banking, and into broader financial services and investments.

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