Tech

Plaid receives a $ 425 million investment in Seri D

A fintech initiative that creates an API for users to connect their financial accounts to applications. TartanOn his official blog, he has received a Series D investment of $ 425 million. Announced. With the latest investment he received, Plaid’s valuation reached $ 13.4 billion.

As you know, Plaid made an agreement to be acquired by Visa in early 2020. However, the acquisition was not finalized last year, and Plaid announced on January 13, 2021 that it canceled the purchase agreement and will continue to be a independent company. The reason the purchase agreement could not be finalized was due to a lawsuit filed with the Department of Justice. Visa can be experimented with with this purchase monopolization anxiety It was taken into account and Visa announced that it was withdrawing from the settlement as the case could take a long time.

It appears that Plaid quickly survived the failed $ 5.3 billion acquisition deal and announced that it had received the Series D investment. It is a surprising fact that the valuation of Plaid, which cannot be sold to Visa for $ 5.3 billion today, is $ 13.4 billion. In this investment of 425 million dollars Capital altimeter He directed. Silver lake and Ribbit Capital They also stood out during this tour as startups with Plaid investors. Existing investors Andreessen Horowitz, Index Ventures, Kleiner Perkins, New Enterprise Associates, Spark Capital and Thrive Capital also contributed to the tour.

After a successful year 2020, Plaid has shown that its performance is more than what Visa offers, and it is possible to say that it is more profitable as a result of not being bought by Visa. In 2020 more than 60 percent of customers The company, which managed to grow, continues to grow the team. The number of employees of the company, which has recently grown rapidly. More than 650 case.

Speaking to the press, the CEO of Plaid Zachary perretstated that they were excited about the trio joining their investors on this tour and stated that the next stage is the public offering. In short, as a growing fintech, Plaid will not have a highly probable Serial E investment and it looks like the initiative will start preparing IPO documents at the next stage.

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