Payments giant Visa to buy buzzy startup Plaid for $5.3 billion - Business Insider

Visa announced on Monday it has agreed to buy fintech startup Plaid for $5.3 billion.

Plaid raised $250 million in a Series C in December 2018, which Visa participated in, at a reported valuation of $2.65 billion. Visa CEO and chairman Al Kelly said in a statement that the deal "will position Visa to deliver even more value for developers, financial institutions and consumers."for $5.3 billion.

Plaid serves as the link between financial apps such as Betterment and Venmo and customers' bank accounts. The company uses application programming interfaces to share data between both two sides. In December 2018 the buzzy startup raised $250 million in a Series C that Visa participated in and valued it at $2.65 billion,

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