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Plaid Acquired by Visa for $5.3 Billion

We are extremely excited to share that Fund II portfolio company Plaid is being acquired by Visa for a reported $5.3b!

Plaid has built foundational infrastructure for the future of consumer finance by securely connecting fintech developers and financial institutions with over 200m consumer accounts worldwide. Plaid currently provides secure connections for 80% of the largest U.S. fintech apps with:

• 11,000+ banks and financial services companies

• 2,600+ fintech developers

• One in four people with a U.S. bank account

While direct-to-consumer fintech has garnered much of the hype in recent years, the Plaid acquisition demonstrates the enormous opportunity for B2B providers of financial infrastructure. The acquisition also continues to highlight the rich and diverse exit landscape that exists for entrepreneurs building important fintech businesses.

If you are one of those entrepreneurs (or know one) who has a hunger to reimagine the way money flows through the world, we’d love to hear from you at hello@fintech.io.

You can read more about the acquisition here:

• Visa presentation on the acquisition – Read more

• Plaid blog post - Read more

Team Plaid…Congratulations and don't forget to stay magical!