Portfolio company Quovo made headlines this week, as Plaid (who acquired Quovo earlier this year) announces Investments, which an API based that enables customers to pull investment data into their apps.
Lowell Putnam, head of partnerships at Plaid and former CEO and co-founder at Quovo, says there has been a hunger for this kind of data from customers and developers, and that the Quovo purchase helped accelerate that inside Plaid. “I think that the origins of the product comes from a company that I co-founded and also broader demand that Plaid has seen in the past several years. It shouldn’t come as a surprise that a lot of our customers want the full 360-degree view of their clients,” Putnam told TechCrunch. “With connectivity to investment accounts, Plaid can serve a whole new set of use cases to enable developers, technology platforms, and financial institutions to deliver more insightful and compelling products,” the company wrote in a blog post announcing the new product.