Plaid Raises $575 Million At $6.1 Billion Valuation Led By Franklin Templeton And Others

Plaid, the fintech company connecting bank accounts to financial applications, raised $575 million in a common stock sale at a $6.1 billion valuation. The round, led by Franklin Templeton with participation from Fidelity, BlackRock, NEA, and Ribbit Capital, will help cover employee tax obligations from expiring RSUs and provide limited liquidity through an employee tender offer. CEO and co-founder Zach Perret noted the raise follows a record revenue year, with over 25% growth in 2024 and a shift toward sustained profitability. Despite speculation, Plaid will not go public in 2025 but continues to track toward an IPO.

INVESTORS: Franklin Templeton, Fidelity Management and Research, BlackRock, NEA (New Enterprise Associates) & Ribbit Capital

AMOUNT: $575,000,000 VALUATION: $6,100,000,000

HQ: #SanFrancisco #California

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