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Fintech company Plaid investments from Visa, Mastercard



REUTERS: Financial technology company Plaid Inc said on Monday that Visa Inc and Mastercard Inc. were strategic investors in a $ 250 million round of Series C Finance raised in December.

The fintech startup, whose technology lets people connect their bank

"Financial services are in the midst of a digital revolution, led by the fintech market, "Zach Perret, Plaid's chief executive officer, said in the statement.

Founded in 2013, Plaid has some US $ 310 million in financing from backers including financial goldsmith Giants Goldman Sachs Group Inc, Citigroup Inc and American Express Co.

Venture capitalist Mary Meeker in December led a Series C report that reportedly valued the company at $ 2.65 billion, and Plaid says it now has around 400 employees in four cities.

The company gave little detail

Plaid has been "expanding our data network Sherman Haymond, executive vice-president of digital partnerships, framed the investment as a vote.

of confidence in Plaid's ability to make a payment. Haymond said in the statement.

Visa's Bill Sheedy said: "It's all about life," he says.

(Reporting by Nick Brown, edited by Lauren Tara LaCapra and Sandra Maler)


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