Open banking platform Plaid announced in a blog post that it has raised US$ 425 million during a Series D financing round, pushing its estimated valuation to US$13.5 billion.
The funding round was joined by new investors Altimeter Capital, Silver Lake, and Ribbit Capital.
Existing investors include Andreessen Horowitz, Index Ventures, Kleiner Perkins, New Enterprise Associates, Spark Capital, and Thrive Capital.
Zachary Perret, CEO and Co-Founder of Plaid said,
“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, personalisation, decisioning, and automation. We could not be more excited for the years to come.”
Featured image credit: Plaid
