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Visa has made a deal to acquire financial tech company Plaid for $5.3 billion—almost double Plaid’s last private valuation, according to CNBC.
The San Francisco-based company, founded by Zach Perret and William Hockey in 2013, has technology that powers roughly 2,600 fin-tech apps—like Acorns, Betterment, TransferWise, Robinhood and Venmo—by linking users’ bank accounts to more than 11,000 financial institutions.
Though Plaid has been around for less than a decade, it has become a key agent in the
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