AUS
NZ
UK
CA
USA
IND
Highlights
- In January last year, Visa was ready to buy Plaid for about US$ 5.3 billion, however, the deal was blocked.
- Plaid is a financial technology (fintech) company and is based on the open banking model.
- The California-based fintech company facilitates data transfers between businesses, customers, and their bank accounts.
Ever since it was reported that financial services company Plaid secured new funding in September this year, potential investors have been looking up the company's initial public offering (IPO) plans.
It was not revealed as to how much Plaid raised in the latest funding round, however, it had raised US$ 425 million in a Series D funding round held in April 2021. The financial services company was then reportedly valued at around US$ 13 billion.
In January last year, Visa was ready to buy Plaid for about US$ 5.3 billion, however, the deal was blocked by the Justice Department. Since then, the company has grown rapidly and interested investors are waiting for Plaid to become a publicly-traded company.
All you need to know about Plaid
It is a financial technology (fintech) company and is based on the open banking model. Plaid allows its users to link their bank accounts to other apps and this enables them to transfer or make payments quickly and efficiently.
Also Read: Solid Power to go public. How to buy the EV battery maker’s SLDP stock?
The California-based fintech company facilitates data transfers between businesses, customers, and their bank accounts. Plaid uses an application programming interface (API), used by third-party developers to access a company's data.
© 2021 Kalkine Media
The company earns money by charging fees on transactions from applications using its service. Started in 2012 by two programmers named William Hockey and Zach Perret, Plaid has become of the leading fintech companies worldwide.
Bottom line
You cannot buy the fintech company's stock at the moment as it is a private company. There is no official confirmation on the IPO plans from Plaid, however, it could consider going public as a lot of its competitors have already listed their shares.
Also Read: Grove IPO or SPAC? Here's how to buy the sustainable company's stock
If the IPO happens, then the investors will be able to buy the shares of Plaid when it begins trading in a stock market.
Alternatively, if Plaid gives an option to retail investors to buy the pre-IPO stock, then investors will have to try and get hold of these shares through a stockbroker or trading platforms like Robinhood.
