Fintech startup Plaid raises $250M at a $2.65B valuation

Fintech infrastructure is big business. Plaid, a startup founded in 2013 providing access to banking information via secure API, announced a $250m raise at a $2.65bn valuation, 10x from its last raise. Plaid is the backbone behind a number of huge applications including Venmo and Coinbase, they are a great example of selling picks and shovels, not reliant on the success of any individual product. With the banks unlikely to cooperate and create a competitive product, these guys have room to run.


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