Plaid secures $425mn in Series D funding round

By Pavithra R

Plaid, a FinTech company democratizing financial services through technology, has announced raising $425m Series D financing. The funding round saw participation from new investors Altimeter Capital, Silver Lake, and Ribbit Capital along with existing investors, including Andreessen Horowitz, Index Ventures, Kleiner Perkins, New Enterprise Associates, Spark Capital, and Thrive Capital.

The new funding will help plaid to better support developers across all industries & continue to unlock financial freedom for everyone. The FinTech is planning to use the investsment to help scale the platform to support the massive growth in fintech, and enable the next generation of digital financial services. The firm also has plans to continue to grow its team and is hiring over 400+ roles across all teams.

“Looking ahead, Plaid is focused on creating a single, integrated platform focused on helping innovators build digital financial products. Doing so requires scaling to meet the increased use of fintech, expanding globally to meet international demand, and delivering an expanded set of platform products to our customers. This will include continued investment in APIs that help people connect a complete view of their finances, as well as tools and services to support enhanced privacy, personalization, decisioning, and automation. We could not be more excited for the years to come,” wrote Zachary Perret, Plaid Co-Founder & CEO in the company blog.

Founded in 2012, Plaid is focused on building the enabling infrastructure for financial services that provide a secure and efficient way to move financial data, reducing fraud and providing more product and service options to consumers that can improve their transparency and control over personal financial information.