Plaid completed the acquisition of Cognito for $250m.

Plaid, a company which provides companies with the tools and access needed for the development of a digitally-enabled financial system, completed the acquisition of Cognito, a developer of identity verification and compliance platform for businesses, for $250m. “Plaid believes in our vision to drastically reduce the overhead of onboarding customers for all fintech applications. With Plaid backing us, we will continue to build amazing products for years to come,” Alain Meier, Cognito CEO.