Zach Perret, CEO and co-founder of Plaid, speaks in the course of the Silicon Slopes Tech Summit in Salt Lake Metropolis, Utah, U.S., on Jan. 31, 2020.
George Frey | Bloomberg through Getty Photographs
Plaid raised a brand new spherical of capital that just about triples its valuation a couple of months after a deal to be purchased by Visa fell aside.
The fintech firm introduced a $425 million Sequence D funding spherical on Wednesday, led by Altimeter Capital with participation from new traders, Silver Lake and Ribbit Capital. Earlier traders Andreessen Horowitz, Index Ventures, Kleiner Perkins and New Enterprise Associates additionally added to the spherical.
The brand new financing boosts Plaid’s valuation to $13.four billion, in keeping with an individual aware of the matter, who requested to not be named as a result of the small print had been non-public. The Info first reported that Plaid was within the technique of elevating cash.
Early final 12 months, Visa agreed to purchase Plaid for $5.three billion, which on the time was double the San Francisco-based start-up’s earlier…