Plaid IPO

Plaid, which is a fintech company building a platform that allows apps to connect with users’ bank accounts, signed a definitive agreement to be acquired by Visa on January 13, 2020 for a total purchase consideration of $5.3 billion.

Founded in 2013, Plaid raised approximately $300 million in Venture Capital funding from investors including Andreessen Horowitz, Index Ventures, Kleiner Perkins, MasterCard, NewView Capital, Visa, American Express Ventures, Citi Ventures, New Enterprise Associates, and Spark Capital. It has been broadly reported that the company’s last funding was in December 2018, when it raised $250 million at a post-money valuation of $2.64 billion.