Plaid

bankingtechnew core banking solutions

FOUNDING YEAR: 2012
LOCATION: United States
Last Update: 01/05/2020

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About

Plaid provides technical infrastructure APIs that connect consumers, traditional financial institutions, and developers. The company also provides key insights to the data access that they provide with a suite of analytics products. Recently, Plaid was selected for the 2019 Forbes FinTech 50 startups list.

Focus

PRODUCTS & SERVICES

The company provides the following products: 1. ACH: Enables users to instantly authenticate bank accounts without microdeposits 2. Balance: Allows to pull historical data and real-time balances to decrease NSFs. 3. Identity: Allows the use of bank data to verify identities and reduce fraud. 4. Transactions: Allows users to get reliable bank statement data from various institutions. 5. Assets: Allows verifying borrowers' assets straight from the source. 6. Income: Allows a user to validate income and verify employer info and depository data.

MAIN CLIENTS

Abacus

Acorns

Robinhood

Digit

Venmo

Gusto

OptionsHouse

TransferWise

Charity Water

American Express

etc.

COMMENT

Provides technology which makes use of high-quality transaction data, validate account ownership, and mitigate risks in a user-friendly way. The company plans to deepen its analytics product offerings (by the end of 2017), which is designed to help address the financial system with regard to risk and fraud.

Traction

VALUATION / MARKET CAP:

$2.65 B in 2018

VALUATION COMMENT:

After the latest funding round, the company's valuation is at $2.65 billion. (Dec. 2018)

REVENUE

$10M+ in 2017

REVENUE COMMENT:

The estimated revenue of the company was $40Million in 2017

ACTIVE USERS COMMENT:

The company reports that the app has integrated with more than 10,000 banks and connected to nearly 20 million consumer accounts. Along with that, the customer base has grown its twice from 2017 to 2018. (Dec. 2018)

TRACTION COMMENT:

The company says that 25% of people in the United States with bank accounts have connected to Plaid through an app – a 13% increase from last year. (Dec. 2018)

Momentum

FUNDED

YES

TOTAL FUNDING

$353.3 M

DATE OF LAST FUNDING

Dec 2018

TOTAL FUNDING COMMENT

The company will use its funds to build new products and expand the size of its team. (Dec. 2018)

SEED & PRIOR FUNDING

$2.8 M

SEED CLOSED ON

Sep 2013

FUNDING SERIES

SERIES A  · $12.5 M  · Nov 2014

SERIES B  · $88 M  · Feb 2017

SERIES C  · $250 M  · Dec 2018

LISTED

NO

BASICS

FOUNDING YEAR:

2012

LOCATION:

United States

Views:

565 VISITORS | 1113 VIEWS
LATEST FUNDING ROUND

$353 M

TOTAL EMPLOYEES
201-500

About

Plaid provides technical infrastructure APIs that connect consumers, traditional financial institutions, and developers. The company also provides key insights to the data access that they provide with a suite of analytics products. Recently, Plaid was selected for the 2019 Forbes FinTech 50 startups list.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

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