Just 363 days separate two of the biggest announcements in Plaid’s timeline. In 2020 alone, Plaid’s customer base grew by 60% to more than 4,000 companies using its APIs, including big names like Microsoft and PayPal. “Covid-19 definitely increased the acceleration of adoption of fintech and all the companies underneath it and powering it,”.
As for what’s coming next for Plaid in Europe and the UK, Grose said that his mission is to hammer home the importance of open banking. “One of the themes coming out of the acceleration of fintech form last year and continuing into this year is the increasing importance of embedded finance and taking financial services to meet users where they are,” Grose told AltFi. “I think open banking payments and building new functionality will be the story of what we’re focussed on in Europe in 2021,” he added. Lots of new products and company announcements are on the horizon for the Silicon Valley fintech and bringing open banking to the masses. Grose also remained shtum on fundraising now that the Visa takeover is out of the question: “That’s definitely a no comment for now. We feel good about where we are but obviously, we’ll do whatever we need to ensure we’ll be around for a long time.”