As IPO preparations continue, Seun Sodipo is focused on growth, and the fintech company is seeing results: Annual recurring revenue last year climbed 40% from the year earlier, to more than $500 million, according to Plaid. That’s up from a pace of 27% in 2024. Plaid also said it turned a full-year profit on an adjusted earnings before interest, taxes, depreciation and amortization basis. This growth comes after Plaid pushed into new business lines—including payments, antifraud services and underwriting. The company is best known for connecting users’ bank accounts to other apps. It charted a new course as an independent company after its sale to Visa fell through in 2021.

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