Visa set to acquire the fintech company Plaid in a $5.3 billion deal

11:09 AM ET Tue, 14 Jan 2020

Visa is buying Plaid in a deal worth $5.3 billion—roughly double the start-up's last private valuation. Plaid's API software lets start-ups connect to users' bank accounts and works with Venmo, mobile investing app Robinhood and cryptocurrency exchanges Coinbase and Gemini. Plaid says 25% of people in the United States with bank accounts have connected to the fintech company through an app.