Housing News Podcast: HousingWire’s Ben Lane talks Plaid/Visa deal and the fintech consolidation wave
The Housing News Podcast is a weekly wrap of the top news stories by HousingWire CEO Clayton Collins.
Each week, HousingWire interviews financial services experts who can help make sense of the latest headlines, sponsored by our partners at Arch MI.
This week, Ben Lane, the managing editor of HousingWire, discusses Visa’s announced acquisition of technology platform and 2019 HW Tech100 winner Plaid. The agreement, which represents a total purchase consideration of $5.3 billion, enables Visa to deliver more value for developers, financial institutions and consumers, according to the company.
Here’s more detail on the topic of discussion this week:
Last year, Plaid secured investments from Visa and Mastercard. It turns out that Visa’s interest in Plaid was much more than just exploratory as the credit card giant is now set to buy Plaid for more than $5 billion. That figure is exactly twice as much as Plaid’s reported valuation in late 2018 when it raised $250 million in its Series C funding round at a valuation of $2.65 billion.
And here is a link to the topic discussed:
1) Visa buying fintech company Plaid for $5.3 billion