Earlier this week Plaid, the fintech scale-up that has raised $310 million from the early investors of Facebook, Skype and Slack to connect bank accounts to fintech applications, announced that it had decided to terminate its pending acquisition by Visa, and will instead remain an independent company.
Commenting on the latest news, a post on the company’s blog said, “Since founding Plaid eight years ago, we have been maniacally focused on expanding access and improving financial outcomes for consumers, developers, and financial institutions – and the intent of joining Visa was to accelerate that work.
It does feel like we’re back in startup mode. We’ve got plenty of interesting stuff in the pipeline – we’re bringing on new customers, especially those outside of the walls of “fintech”, as we’ve already done with Microsoft in the US. We’ll have a few more interesting announcements to make soon – some of which may come as a surprise.