Data aggregation and open banking giant Plaid, which connects bank accounts to financial applications, has raised $575 million in a stock sale, bringing its valuation down to $6.1 billion, roughly half of its peak value in 2021. Despite the decrease, the company continues to show strong growth, with revenue up over 25% in 2024 and a significant expansion in its product offerings, including lending, fraud prevention, and identity verification. Plaid remains optimistic about its future, with plans to focus on sustained profitability.It has ruled out an IPO in 2025.
Fintech Plaid Raises $575M at a $6.1B Valuation, Says It Will Not Go Public in 2025
