Funding round
Plaid Series D
Plaid, which works in financial data connectivity solutions in San Francisco, raised $425M in a Series D round announced on 7 Apr 2021, led by Altimeter, Silver Lake and Ribbit, at a $13.40B post-money valuation. 9 firms took part, 6 of them already investors. It is Plaid's fourth venture round on record; the one before was a Series C in Dec 2018.
$425M
Amount raised
$13.40B
Post-money valuation
$12.97B pre-money
9
Investors
3 leads
5.1x
Step-up from the Series C
$2.65B in Dec 2018
3.2%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Plaid at $13.40B after the new money, 5.1 times the $2.65B of its Series C (Dec 2018). The $425M bought investors about 3.2% of the company. It came 28 months after Plaid's Series C. It is 33% of the $1.30B Plaid has raised in the venture rounds on record. Plaid raised again 48 months later: a Growth round of $575M in Apr 2025, at $6.10B post-money.
Plaid's funding rounds
Plaid has 5 venture rounds on record and 1 other deal. This one is highlighted.
- Seed 19 Sep 2013, led by Spark Capital $2.8M
- Series B 20 Jun 2016, led by Goldman Sachs $44M
- Series C 11 Dec 2018, led by Kleiner Perkins $250M$2.65B post-money
- Acquisition not a venture round 13 Jan 2020, led by Visa Inc. $5.30B
- Series D this round 7 Apr 2021, led by Altimeter, Silver Lake and Ribbit $425M$13.40B post-money
- Growth 3 Apr 2025, led by Franklin Templeton, Fidelity Management and Research and BlackRock $575M$6.10B post-money
Investors
Who put money in
Altimeter, Silver Lake and Ribbit led the round with 6 other firms. Andreessen Horowitz, Index Ventures, Kleiner Perkins and New Enterprise Associates and 2 more had backed Plaid before.
Lead investors
- Altimeter backs 67 venture-backed companies new investor
- Silver Lake backs 44 venture-backed companies new investor
- Ribbit backs 126 venture-backed companies new investor
Also in the round
- Andreessen Horowitz backs 722 venture-backed companies existing investor
- Index Ventures backs 353 venture-backed companies existing investor
- Kleiner Perkins backs 285 venture-backed companies existing investor
- New Enterprise Associates backs 286 venture-backed companies existing investor
- Spark Capital backs 234 venture-backed companies existing investor
- Thrive Capital backs 130 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
20 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $169M, and this round was 2.5 times the median. The closest in time, other companies' Series D rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 1 Apr 2021 | $425M | $7.40B | Tiger Global |
| Greenlight Payment Processing & Point of Sale | 27 Apr 2021 | $260M | $2.30B | Andreessen Horowitz |
| CRED Payment Processing & Point of Sale | 6 Apr 2021 | $215M | $2.20B | Alpha Wave Global and Coatue |
| Payment Processing & Point of Sale | 28 Apr 2021 | $80M | not disclosed | Tencent and European Bank for Reconstruction and Development |
| Payment Processing & Point of Sale | 8 Apr 2021 | $70M | not disclosed | Addition |
| SpotOn Payment Processing & Point of Sale | 26 May 2021 | $125M | $1.88B | Andreessen Horowitz |
| Payment Processing & Point of Sale | 31 Mar 2021 | $120M | not disclosed | JS Capital Management LLC and Soros Capital Management LLC |
| Airwallex Payment Processing & Point of Sale | 23 Mar 2021 | $100M | $2.60B | Greenoaks |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Plaid raise in its Series D round?
Plaid raised $425M in its Series D round, announced in Apr 2021.
Who led Plaid's Series D round?
Altimeter, Silver Lake and Ribbit led it, with Andreessen Horowitz, Index Ventures, Kleiner Perkins, New Enterprise Associates and Spark Capital and 1 more.
What was Plaid's valuation at the Series D round?
$13.40B post-money ($12.97B pre-money).
How does it compare with other Series D rounds in Payment Processing & Point of Sale?
20 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $169M, and this round was 2.5 times the median.
Did Plaid raise again after this round?
Yes: a Growth round in Apr 2025 of $575M at $6.10B post-money.