• FOUNDING YEAR: 2012
    LOCATION:
    United States
    REGION:
    CA
    Last Update:
    27 Jun, 2019

Description

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.

PEOPLE

FOUNDERS:
Zach Perret, William Hockey
NUMBER OF EMPLOYEES:
51-200
INVESTORS:
Femto Partners, Eight Roads Ventures, Goldman Sachs, New Enterprise Associates, Citi, American Express, Spark Capital, Felicis Ventures, Homebrew, GV, Andreessen Horowitz, and Index Ventures.

TRACTION

VALUATION / MARKET CAP:
$2.65 Billions in 2018
VALUATION COMMENT
After the latest funding round, the company's valuation is at $2.65 billion. (Dec. 2018)
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)
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:
$309 Millions
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 Millions
SEED CLOSED ON:
Sep 2013
FUNDING SERIES:
SERIES A
$12.5 Millions Closed: Nov 2014
SERIES B
$44 Millions Closed: Apr 2018
SERIES C
$250 Millions Closed: Dec 2018
LISTED:
NO

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