Fintech startup Plaid raises $425 million in Series D funding

Plaid raises $425 million in Series D funding.

The fintech startup Plaid has raised $425 million in a Series D funding round, which will be used to scale the platform.

We’ve seen the power of fintech improve people’s financial lives. Our new funding will help us better support developers across all industries & continue to unlock financial freedom for everyone. We’re excited to continue building the future together. https://t.co/1WCNwN0NCz

— Plaid (@Plaid) April 7, 2021

Among the new investors are Altimeter Capital, Silver Lake and Ribbit Capital. Plaid’s funding round also included participation from Andreessen Horowitz, Index Ventures, Kleiner Perkins, New Enterprise Associates, Spark Capital and Thrive Capital.

Beyond developing the platform, Plaid said it plans to broaden the geographic reach of its services.

Earlier, Visa had planned to acquire Plaid. The British regulator approved the deal, but the U.S. Department of Justice deemed it risky.

The payments giant was forced to abandon the purchase of the startup. Plaid said that Visa would cooperate with the startup as an investor and partner.

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