Plaid, a company that connects financial applications to users’ bank accounts, enabling payments and data verification, has allowed employees to sell some of their shares at an $8 billion valuation, the company confirmed to TechCrunch.
The valuation represents a 31% increase from the $6.1 billion valuation the 13-year-old company achieved in April of last year, when it raised a $575 million round led by Franklin Templeton for partly the same purpose: purchasing shares from employees.
‘Despite its new, bigger headline number, Plaid is still valued at 40% below its $13.4 billion peak in 2021, when ultra-low interest rates drove a massive surge in fintech valuations.
Source: TechCrunch