Very Good Security has received a strategic investment from Visa to expand access to its infrastructure-as-a-service for fintechs.
Very Good Security (VGS) has received a strategic investment from Visa (NYSE:V) to expand access to its infrastructure-as-a-service for financial tech companies (fintechs) and large enterprises.
As quoted in the press release:
Visa joins other notable investors, including Goldman Sachs, Andreessen Horowitz, Vertex Ventures US, and Max Levchin (co-founder of PayPal), in advancing VGS’ mission to provide a better approach to data security, privacy and compliance.
Earlier this year, Visa selected VGS as a launch partner for its Fintech Fast Track program, which supports digital payment innovation by making it simple to collaborate with Visa and launch new fintech products. VGS safely stores sensitive data, such as account numbers and personal information, on behalf of companies to enhance security and reduce their compliance requirements.