💰 Plaid Raises $575M at a $6B Valuation Amid IPO Delay
Fintech giant Plaid has raised $575 million in a new funding round, cutting its valuation to $6 billion from the 2021 peak of $13.4 billion. The move allows employees to cash out their equity as the company holds off on going public.
Funding Details:
⚪️Led by Franklin Templeton, Fidelity, and BlackRock.
⚪️Previous backers NEA and Ribbit Capital also participated.
⚪️Funding aimed at employee liquidity amid IPO delay.
Why it Matters:
🖱️Reflects a broader trend among private tech firms to offer liquidity through secondary rounds.
🖱️Follows similar moves by Ramp, Databricks, OpenAI, and Stripe.
🖱️IPO is still planned but not imminent.
Company Highlights:
🖱️ Сonnects users’ bank accounts to apps like Venmo, Robinhood, and Coinbase.
🖱️Expanded into bill payments, data analytics, and fraud prevention.
🖱️Growing focus on cybersecurity as AI-driven financial fraud surges.
As IPO markets remain uncertain, Plaid’s move highlights how late-stage startups are navigating market volatility while giving employees cash-out opportunities.
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