Banking data aggregator Plaid has acquired their main competitor Quovo in a deal that Bloomberg said could reach $200mn; the move follows another big announcement by Plaid, raising $250mn from Mary Meeker and other investors; “This represents the merging of two complementary but both very important businesses,” said Zach Perret, Plaid’s CEO; the deal will help Plaid ramp up expansion as they look to gain more market share and sign agreements with some of the leading banks. Source.
