Data

Plaid acquires Quovo, eying move into brokerage and investment data

  • Competition is growing in the data aggregation market.
  • After a large investment, Plaid buys a competitor.
close

Email a Friend

Plaid acquires Quovo, eying move into brokerage and investment data

Data aggregator, Plaid will acquire competitor Quovo. The transaction may reach $200 million, according to Bloomberg.

What’s happening: The data aggregation businesses is getting increasingly competitive. Enabling the sharing of financial data across firms and applications is the data aggregation industry.

Plaid, a popular data agg firm among technologists, raised $250 million in December in an investment round that valued the firm at $2.65 billion.

Why Quovo: There are a variety of players seriously competing for the data aggregation market, including Plaid, Quovo, Finicity, and Yodlee..

Quovo specializes in providing aggregated data to the investment and brokerage industry and cites Betterment, Wealthfront and SoFi as clients, as well as more established names in wealth management, like Stifel, Vanguard, and John Hancock.

Quovo gives Plaid a foothold in this sector.

Drilldown: Plaid’s Sima Gandhi on building a fintech ecosystem and the end game for data aggregation

0 comments on “Plaid acquires Quovo, eying move into brokerage and investment data”

Data

Tearsheet’s 2020 Guide to Financial Data

  • Data underpins the modern financial services ecosystem.
  • Download Tearsheet's 2020 Guide to Financial Data free.
Tearsheet Editors | July 29, 2020
Data

Visa has Plaid and now Mastercard acquires Finicity for close to $1 billion

  • Earlier this year, Visa acquired Plaid, a leading financial data aggregation and insights firm.
  • Now, Mastercard is buying Finicity, pointing to the strategic role data aggregation firms play in global payments.
Michael Deleon | June 23, 2020
Awards, Data

Winner of Tearsheet’s Best New Alternative Data Product: Facteus’ Enlightmint

  • The chaos caused by the current pandemic requires new data analytics tools to understand what's happening and chart a path forward.
  • Facteus' Enlightmint is the winner of Tearsheet's 2020 Award for Best New Alternative Data Product.
Zoe Murphy | June 23, 2020
Data

‘More than the new oil’: Conclusions from Tearsheet’s DataDay Conference

  • The pandemic has shifted activity toward digital channels, amplifying the need for safe and secure data sharing between banks and fintechs.
  • Holding data is no longer a differentiator; institutions that thrive will make use of that data to build ongoing customer relationships.
Suman Bhattacharyya | June 19, 2020
Data

Preview of Tearsheet’s DataDay Conference 2020

  • Tearsheet's DataDay conference brings together data firms, banks, and fintechs around financial data
  • June 2 through 4, DataDay is designed for digital finance managers, product, strategy, and connectivity professionals
Tearsheet Editors | May 29, 2020
More Articles