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When plaid announced its $ 250 million investment in Series C, and last year it left out two key investors. Today, it has been revealed that Mastercard and Visa have also participated discreetly in the tour.
For a company like Plaid, which builds APIs to allow customers to seamlessly access their bank accounts in apps, benefiting from the blessing of two of the world's leading credit companies is a big problem. This could indicate that the start-up intends to go further in payments, although she made no specific claim that she was doing so in the ad.
CEO and co-founder Zach Perret, writing in a blog this morning, exposed the broad implications of the presence of these companies. "We are particularly excited about what this means for our customers and our consumers. As an industry, when we have a common vision of an open, secure, and innovation-friendly ecosystem, the possibilities are limitless, "he wrote.
Check tools
Plaid helps developers connect to financial services in the same way that Stripe helps them connect to payments or Trello to communication tools. By having access to a set of Plaid tools, developers can create access to banking information and other financial data in their applications without needing to know how to connect to thousands of different banking systems.
The former CTO and co-founder, William Hockey, explained to TechCrunch what this meant in an announcement made earlier this year:
"Everyone in the United States can actually use this product now. And some of these [connections] are very fast and instant, and some of them may take a day to check, but what we are doing is integrating all of this into the product. As a developer, you do not have to worry about all the authentication methods used by some of these banks, "explained Hockey.
Plaid has raised more than $ 310 million since its launch, and this investment in last year's C Series resulted in a massive $ 2.65 billion valuation. Strategic investments of this type show that the industry as a whole is behind a start-up and has Mastercard and Visa. involved, gives the company additional credibility in the market.
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