
Total amount raised
$734.3 Millions
Latest funding date
April, 2021

Location
Plaid has successfully raised significant capital through multiple funding rounds, with its most recent Series D round closing in August 2021. The company has attracted a diverse group of investors, including Bedrock and American Express Ventures.
Keep reading to explore the intricacies of Plaid's fundraising journey and the investors backing this innovative platform.
What Is Plaid?
Plaid, founded in May 2013 by William Hockey and Zachary Perret, is a financial technology company based in San Francisco, California. The company provides APIs that enable businesses to build fintech solutions, connecting consumers' financial data to various applications for seamless financial experiences.
Plaid's platform offers a range of products, including tools for payments, fraud prevention, personal finance insights, and credit underwriting. These solutions help developers from startups to large financial institutions create innovative financial services and applications.
With a workforce of 501-1000 employees, Plaid continues to grow and innovate in the fintech space, making it easier and safer for companies to develop modern, digitally-enabled financial systems.
How Much Funding Has Plaid Raised?
- Seed Round
- Amount Raised: $2.8M
- Date: September 2013
- Lead Investors: Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and build the core team.
- Series A
- Amount Raised: $12.5M
- Date: November 2014
- Lead Investors: New Enterprise Associates, Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product offerings and scale the business.
- Series B
- Amount Raised: $44M
- Date: June 2016
- Lead Investors: Goldman Sachs Investment Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and support rapid growth.
- Series C
- Amount Raised: $250M
- Date: December 2018
- Lead Investors: Index Ventures, Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand into new markets.
- Series D
- Amount Raised: $425M
- Date: April 2021
- Lead Investors: Altimeter Capital
- Valuation at Round: $13.4 billion
- Motivation Behind the Round: To advance technology and meet growing demand for digital banking solutions.
- Additional Series D
- Amount Raised: Not publicly disclosed
- Date: August 2021
- Lead Investors: J.P. Morgan Private Capital Growth Equity Partners, Amex Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To allow early-stage investors and employees to sell existing shares and prepare for an IPO.
Total Amount Raised: $734.3M
Current Valuation: $13.4 billion
Key Investors
- Altimeter Capital
- Details: Altimeter Capital is an investment firm that focuses on technology companies. They led Plaid's $425 million Series D round in April 2021.
- Investment Focus Areas: Technology, software, internet.
- Notable Investments: Snowflake, Roblox, Unity Technologies.
- Index Ventures
- Details: Index Ventures is a global venture capital firm that invests in technology-enabled companies. They were a lead investor in Plaid's $250 million Series C round in December 2018.
- Investment Focus Areas: Fintech, enterprise software, e-commerce.
- Notable Investments: Dropbox, Slack, Robinhood.
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm that has been investing in technology and life sciences companies since 1972. They co-led Plaid's $250 million Series C round.
- Investment Focus Areas: Technology, healthcare, sustainability.
- Notable Investments: Google, Amazon, Twitter.
- Goldman Sachs Investment Partners
- Details: Goldman Sachs Investment Partners is the venture capital and growth equity arm of Goldman Sachs. They led Plaid's $44 million Series B round in June 2016.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Uber, Spotify, Pinterest.
- New Enterprise Associates
- Details: New Enterprise Associates (NEA) is one of the world's largest venture capital firms. They co-led Plaid's $12.5 million Series A round in November 2014.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Coursera, Duolingo, 23andMe.
What's Next for Plaid?
Plaid's future is brimming with opportunities, driven by the growing demand for digital banking solutions. With substantial financial backing, including a recent Series D round led by J.P. Morgan and Amex Ventures, Plaid is well-positioned to enhance its technology and product offerings. The company's valuation of $13.4 billion underscores the vast market potential ahead.
As Plaid continues to innovate, future fundraising opportunities seem promising. The ongoing investment and high valuation suggest that Plaid may attract further funding to support its expansion. However, the company 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 Plaid navigates its growth trajectory.
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