Plaid raised $44M in Series B

What does Plaid do?

Plaid, is a financial technology platform which builds infrastructure for financial services. The company makes building fin tech simple by fixing the infrastructure of credit cards and banks. Using its REST API, developers can integrate in just minutes and get good account and  transactional data from the biggest financial institutions. The company instead of less quality merchant strings users present in bank statements. The company gives high context data to each transaction which includes merchant names, address, category, date, geocode and dollar value. b

How much Plaid was funded?

The company raised $44M in Series B on June 19, 2016 from GV, Spark Capital, BoxGroup, Goldman Sachs and New Enterprise Associates.

Previous funding

$2.8M on September 19, 2013 from Homebrew, New Enterprise Associates, Felicis Ventures, Spark Capital and GV.

$12.5M in Series A on November 15, 2014 from Felicis Ventures, New Enterprise Associates, Homebrew and Spark Capital.

What is next for Plaid?

The company plans on using the latest funding for supporting the growth of the financial tech ecosystem the nd the company is excited at collaborating with financial institutions, incumbents, and new startups for building the tools that customers and businesses require for living better financial lives. It is the platform upon which thousands of applications are built now, the company is now excited for using this new funding raised for scaling operations.

More about Plaid

Plaid was founded in 2012 by William Hockey and Zach Perret. It has its headquarters in San Francisco, CA. It is a financial tech platform which enables apps for connecting with users bank accounts. The company focuses on reducing the barriers for entering in financial services by making it easy and safe for using financial data. The team builds beautiful customer experiences, intelligence tools and user friendly infrastructure which provides everybody with the ability to build the future of financial services. The company is leading the path of making the next gen financial tech possible by serving as the data layer between applications and financial institutions.