Plaid, an organization that connects financial institution accounts to monetary functions, is engaged on a deal to permit early-stage buyers and workers to promote their inventory to Goldman Sachs, which can elevate between $300 million and $400 million, Bloomberg reported citing sources.
The tender supply, as such offers are known as, will possible worth the corporate decrease than its earlier financing spherical. Plaid raised a $425 million Sequence D at a post-money valuation of $13.4 billion in April 2021 in a deal led by Altimeter Capital.
However since then, increased rates of interest have led to decrease valuations for a lot of fintech startups.
Plaid didn’t instantly reply to a request for remark.
Whereas Plaid initially centered on fintech purchasers, its buyer base now consists of established monetary corporations like H&R Block, Western Union, and Citi. The corporate’s income elevated greater than 25% in 2024, Bloomberg reported final month.
Correction: An earlier model of this story stated that Goldman will purchase the shares for $300 million to $400 million.
