Goldman Sachs Investment Partners has led a $44m financing round for venture capital-backed fintech ecosystem business Plaid Technologies.
Plaid, which aims to help applications connect with users’ bank accounts, previously picked up a $12.5m Series A round in 2014 and a $2.8m seed round in 2013.
Spark Capital led the seed, while other investors across the two rounds include GV, Felicis Ventures, New Enterprise Associates and Spark Capital.
New Enterprise Associates also took part in the latest round. NEA partner Rick Yang said, “We’ve been working with the Plaid team since their early days, and it’s incredible how much innovation the company has powered in just a few short years.
“The products being built on Plaid’s technology platform demonstrate that improving the data infrastructure layer is the key to driving further financial progress.
“Plaid enables core product functionalities and creates superior user experiences–we think they have all of the makings to be the leading force in the fintech infrastructure market, and we’re excited to be a part of it.”
Goldman Sachs Investment Partners co-head of venture capital and growth equity, Christopher Dawe, added, “Plaid is leading the way in making the next generation of financial technology possible by serving as the data layer between financial institutions and applications.
“In a short amount of time the company has reached millions of end users across a variety of applications, which exemplifies the power of data network effects and scale advantages.
“We are excited to partner with Plaid and support the business as it continues to enable financial innovation.”
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