Salesforce and Power Financial are set to exit Quovo, a fintech developer that had secured $20m in capital, in a purchase by Plaid for up to $200m.
Quovo, a US-based investment and brokerage aggregation platform backed by enterprise software producer Salesforce, agreed to an acquisition by banking technology provider Plaid yesterday.
Financial terms of the acquisition were not officially disclosed, but unnamed sources told Bloomberg the deal would be worth up to $200m after performance bonuses have been taken into account.
Founded in 2009, Quovo has developed software that offers financial analytics and data management to investors with bank-level security measures, providing features such as automated clearing…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
