Wires

UPDATE 1-Visa to buy fintech startup Plaid in $5.3 billion deal

(Adds statement from Visa)

Jan 13 (Reuters) - Visa Inc has agreed to buy privately held financial technology startup Plaid Inc in a $5.3 billion deal, the payments processor said on Monday.

The news was first reported by the Wall Street Journal, which said Plaid was valued at nearly $2.65 billion in a 2018 funding round.

The company's technology lets people connect their bank accounts to mobile apps like Venmo. (Reporting by Saumya Sibi Joseph and Ankit Ajmera in Bengaluru; Editing by Arun Koyyur)