Buzzy fin tech company Plaid said on Tuesday it's buying competitor Quovo to break into the wealth management space. It's the first major acquisition for Plaid, which has recently been valued at around $2.7 billion in its latest funding round. One of the hottest fin tech companies in Silicon Valley is inking its first big acquisition. Buzzy fin tech Plaid said on Tuesday it plans to acquire competitor Quovo, a market platform providing wealth and brokerage data. The deal is the company's first major acquisition and will help Plaid expand into the wealth market and lending space.