Plaid provides secure open banking aggregation APIs that power financial connections for individuals, developers, and businesses. Its plug-and-play API suite enables personal finance management, payments, lending, banking, business finance, investment products, and more.
The company partners with global financial institutions, fintechs, neobanks, and enterprise platforms to enable seamless data connectivity and user-authorized financial access.
What Is Plaid and What Does It Do?
Plaid, founded in 2012 by William Hockey and Zach Perret, is headquartered in San Francisco, United States. The company provides open banking aggregation APIs that allow financial institutions and fintech developers to build innovative financial services across payments, lending, banking, and personal finance.
The platform connects consumer-authorized bank accounts to thousands of apps, enabling secure transactions and financial data access.
Plaid employs 1,439 Employees, helping developers seamlessly integrate investment, asset verification, student loan tools, and financial wellness products through its API infrastructure.
How Much Funding Has Plaid Raised?
1. Series E
- Amount Raised: $575M
- Date: April 2025
- Lead Investors: Franklin Templeton Investments, Fidelity Investments, BlackRock, New Enterprise Associates, Ribbit Capital, Crescent Enterprises
- Motivation: To expand global open banking infrastructure, enhance security, and accelerate new product launches in payments and lending APIs.
2. Series D
- Amount Raised: $425M
- Date: March 2021
- Lead Investors: Altimeter Capital, Silver Lake, Ribbit Capital, Andreessen Horowitz, Index Ventures, New Enterprise Associates, Spark Capital, Kleiner Perkins, Thrive Capital
- Motivation: To support product expansion, developer tools, and international growth in Europe and Canada.
Total Funding Raised: $1.32 Billion
Current Valuation: $6.1 Billion (as of April 2025)
Latest Funding Date: April 2025
Key Investors
1. New Enterprise Associates (NEA)
- Details: One of the world’s largest venture capital firms supporting technology and healthcare innovation.
- Investment Focus Areas: Fintech, cloud, enterprise software, healthcare.
- Notable Investments: Robinhood, Coursera, Cloudflare.
2. Spark Capital
- Details: Leading venture capital firm backing transformative consumer and enterprise companies.
- Investment Focus Areas: Fintech, marketplaces, SaaS, consumer tech.
- Notable Investments: Slack, Stripe, Postmates.
3. American Express Ventures
- Details: Corporate venture arm of Amex investing in next-generation financial technologies.
- Investment Focus Areas: Payments, security, and financial services.
- Notable Investments: Plaid, Stripe, Melio.
4. Ribbit Capital
- Details: Global VC firm focused exclusively on fintech and financial innovation.
- Investment Focus Areas: Consumer finance, lending, insurtech, crypto.
- Notable Investments: Coinbase, Brex, Nubank.
5. BlackRock
- Details: The world’s largest asset manager, investing across global sectors and high-growth markets.
- Investment Focus Areas: Financial services, infrastructure, technology.
- Notable Investments: Plaid, Byju’s, FTX.
Where Is Plaid’s Headquarters?
Plaid is headquartered in San Francisco, California, a significant technology hub enabling access to top engineering talent, fintech startups, and financial partners, ideal for scaling open banking solutions.
What’s Next for Plaid?
Plaid is focused on expanding its global open banking network, deepening payment API capabilities, and launching new identity and verification products. With major institutional backing and increasing regulation-driven adoption across Europe and North America, Plaid aims to become the foundational infrastructure layer for financial connectivity worldwide. Its roadmap includes enhanced fraud detection, faster money movement, and broader bank integrations.
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