CORRECTED-Fintech company Plaid discloses investments from Visa, Mastercard [Reuters]
Mastercard Incorporated (MA)
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Source: Reuters
Fintech company Plaid gets infusion from Visa, Mastercard Sept 16 (Reuters) - Financial technology company Plaid Inc on Monday said it is set to receive new backing from Visa Inc and Mastercard Inc as part of a new round of Series C financing worth a total of $250 million. The fintech startup, whose technology lets people connect their bank accounts to mobile apps like Venmo, did not disclose the size of Visa and Mastercard’s investment in a statement announcing the deal on Monday morning. “Financial services is in the midst of a digital revolution, led by the fintech market,” Zach Perret, Plaid’s chief executive officer, said in the statement. “We ... look forward to collaborating with Visa and Mastercard at the intersection of commerce and financial services.” Founded in 2013, Plaid has some $310 million in financing from backers including financial giants Goldman Sachs Group Inc , Citigroup Inc and American Express Co. Venture capitalist Mary Meeker in December led a Series C fundr
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