Visa (NYSE:V) has made another in a series of investments in the world of fintech. Its Visa Ventures investment arm has established an investment and strategic partnership with privately held GoodData, according to a press release from the analytics company Wednesday.
Neither the level of investment nor the specific terms of the deal were made public, although GoodData said that Visa had taken a minority stake.
GoodData is an early-stage company that focuses on business analytics. In its words, the company's "mission is to help companies of any size become data companies."
"Our customers leverage their data and our platform to add new insight services to existing offerings, develop entirely new business models, and better partner with their business networks," it continues.
Visa has been an active investor in the fintech space, in numerous instances buying assets in the segment outright. Most notably, at the beginning of this year, it agreed to pay $5.3 billion to acquire Plaid, operator of a widely used platform that allows various popular digital payment services to operate together.
GoodData appears to have its finger on the pulse of the latest global business developments. In April, it rolled out a new project called COVID-19 Commerce Insight, aimed at evaluating the effect of the disease's spread on local and global consumer spending.
In its press release, GoodData quoted Visa as saying: "With insights from data, we can help sellers, financial institutions and Visa's extended global business network better understand and meet consumer needs, especially when those needs are changing fast. Our partnership with GoodData will allow us to do that."
Visa's shares were down by more than 1% just before noon EDT on Thursday, while the broader stock market was trading fractionally lower.