Payment, banking, and investment services company Fidelity National Information Services (FIS) acquired fintech startup Bond for an undisclosed sum. Bond is a banking-as-a-service (BaaS) startup that provides embedded finance products to fintech firms and banks. The San Francisco, Calif.-based startup was last valued at $182M in 2020, per Pitchbook. - Bond has raised $42M in total funding to date from investors, the last of which came through a Coatue Management-led $32M Series A round in 2020.
- Other backers of the firm include Mastercard, Goldman Sachs, B Capital Group, and Canaan Partners.
- FIS will be looking to integrate Bond's capabilities into its existing products.
- FIS's SVP of Platforms, Himal Makwana, will lead the post-acquisition planning activities.
|
