💰 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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