San Francisco based fintech infrastructure provider has raised $250m in venture financing led by Kleiner Perkins. The company's post-money valuation is reportedly $2.65b.
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Fintech start-up Plaid raises $250 million at $2.7 billion valuation, adds Mary Meeker to board
Fintech company Plaid just hit a key Silicon Valley milestone: a multibillion dollar valuation. The start-up announced a $250 million funding round on Tuesday, led by Kleiner Perkins' partner Mary Meeker, who will also be joining Plaid's board. Andreessen Horowitz and Index Ventures were among the new investors while former backers Goldman Sachs, NEA and Spark Capital also participated. The cash injection brings Plaid's valuation to $2.65 billion, according to a source familiar with the fundraising, who asked not to be named because negotiations were private. This marks a massive increase from Plaid's previous $44 million Series B round and $225 million valuation, according to data from Pitchbook. "We've been really fortunate to have incredible growth in the fintech ecosystem and have been a key partner in driving that," Plaid CEO Zach Perret told CNBC in a phone interview.
