Plaid Technologies has raised a $44 million round of financing led by Goldman Sachs Investment Partners, with participation from existing investors.
The FinTech firm has created a suite of APIs that enable developers to build applications that interface with users’ bank accounts – whether to collect and use account data, set up payments or verify identities.
Since publicly launching in April, Plaid has already landed a number of clients, including Venmo, TransferWise, Justworks, Wealthfront, Abacus and Coinbase. The new fundraising will be used to develop new products, increase Plaid’s workforce and expand into international markets.
Zach Perret, CEO and co-founder of Plaid, said: “The pace of innovation in financial services is just starting to ramp up, and we’re excited to collaborate with financial institutions, incumbents and new startups to build the tools that consumers and businesses need to live better financial lives. As the platform upon which thousands of applications are now built, we're excited to use this new capital to continue to scale our operations.”
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