Total amount raised
$734.3 Million
Latest funding date
4/1/2021
Location
Plaid has raised funding through 9 rounds, with its most recent investment coming from a Venture - Series Unknown round. The company is backed by 29 investors, including notable names like BlackRock and Franklin Templeton.
Keep reading to explore the intricacies of Plaid's fundraising journey and the investors backing this innovative platform.
What Is Plaid?
Plaid is a fintech company based in San Francisco, California, specializing in financial technology infrastructure. Founded in 2013, the company enables applications to connect with users' bank accounts and financial data, operating within the Banking, Financial Services, and FinTech industries.
With an employee count ranging from 501 to 1000, Plaid has established itself as a significant player in the fintech space. The company offers a range of services, including financial onboarding, payments, fraud detection, underwriting, and open finance solutions, connecting to real-time financial data to create secure and efficient financial experiences.
How Much Funding Has Plaid Raised?
- Seed Round
- Amount Raised: USD 2,800,000
- Date: September 2013
- Lead Investors: Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and establish a market presence.
- Series A
- Amount Raised: USD 12,500,000
- Date: November 2014
- Lead Investors: New Enterprise Associates, Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the team.
- Series B
- Amount Raised: USD 44,000,000
- Date: June 2016
- Lead Investors: Goldman Sachs Investment Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and enter new markets.
- Series C
- Amount Raised: USD 250,000,000
- Date: December 2018
- Lead Investors: Index Ventures, Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and invest in new technologies.
- Series D
- Amount Raised: USD 425,000,000
- Date: April 2021
- Lead Investors: Altimeter Capital
- Valuation at Round: USD 13.4 billion
- Motivation Behind the Round: To expand product capabilities and meet market demand.
- Series D (Additional)
- Amount Raised: Not publicly disclosed
- Date: August 2021
- Lead Investors: J.P. Morgan Private Capital, Amex Ventures
- Valuation at Round: USD 13.4 billion
- Motivation Behind the Round: To advance technology and products for digital banking solutions.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: October 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and development.
- Series Unknown
- Amount Raised: USD 575,000,000
- Date: April 2025
- Lead Investors: Franklin Templeton
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market reach and enhance financial technology infrastructure.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: April 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: USD 1,308,300,000. Current Valuation: USD 13.4 billion.
Key Investors
- Franklin Templeton
- Details: Franklin Templeton is a global investment management organization. It offers a wide range of investment solutions and services to clients worldwide.
- Investment Focus Areas: Mutual funds, ETFs, alternative investments
- Notable Investments: Not publicly disclosed
- Altimeter Capital
- Details: Altimeter Capital is a technology-focused investment firm. It invests in both public and private companies.
- Investment Focus Areas: Technology, software, internet
- Notable Investments: Not publicly disclosed
- Index Ventures
- Details: Index Ventures is a global venture capital firm. It supports entrepreneurs in various stages of growth.
- Investment Focus Areas: Technology, life sciences, consumer products
- Notable Investments: Not publicly disclosed
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm based in Silicon Valley. It has a long history of investing in innovative companies.
- Investment Focus Areas: Technology, healthcare, sustainability
- Notable Investments: Not publicly disclosed
- Goldman Sachs Investment Partners
- Details: Goldman Sachs Investment Partners is a division of Goldman Sachs. It focuses on growth equity and venture capital investments.
- Investment Focus Areas: Financial services, technology, healthcare
- Notable Investments: Not publicly disclosed
What's Next for Plaid?
With the recent influx of funding, Plaid is poised to capitalize on the growing demand for digital banking solutions. The company aims to advance its technology and products, creating a more open and connected financial system. This opportunity is substantial, as evidenced by Plaid's valuation of $13.4 billion, driven by significant investments from major financial institutions.
Future fundraising opportunities seem promising, given the ongoing digital transformation and market appetite for FinTech innovations. However, Plaid may face challenges such as competition from other FinTech firms and regulatory hurdles. Ensuring the security and privacy of consumer financial data will also be crucial as they continue to expand their market reach.
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