Plaid is close to a new $ 13 billion financing round after canceling its sale of Visa


Plaid fintech is close to a new round of financing worth about $ 13 billion, nearly three months after it canceled its sale to Visa, according to people familiar with the matter, according to Bloomberg.

People who requested anonymity because the information was private said the funding round would be led by Altimeter Capital.

The sources expected that many of their current investors would participate in the final round, which could raise hundreds of millions of dollars. Biggest investors include NEA, Spark Capital, Index Ventures, and Kleiner Perkins.

Plaid and Altimeter officials did not immediately respond to a request for comment.

Fintech firms have been one of the hottest sectors for mergers and initial public offerings, a trend that has accelerated as online commerce grows during the coronavirus pandemic.

Plaid has more than 4000 customers including Microsoft Corp. And Alphabet Inc, Google, and it has attracted tier-1 financial investors such as Goldman Sachs Group Inc.

Plaid reached a deal worth $ 5.3 billion for Visa, but that deal was abandoned in January after the US Department of Justice filed a lawsuit banning it on antitrust grounds.

A Plaid executive said that month that the company plans to focus on building its European business. Keith Gross, head of international business for Plaid, said the company plans to nearly double the scale of these operations.


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