Open banking platform Plaid announces additional series D funding. JP Morgan and Amex among investors.

18 august 2021

The amount invested was not disclosed but it comes four months after the initial $425 million Series D, which valued Plaid at $13.5 billion.

That valuation was a big step up from a recently aborted $5.3 billion Visa deal, blocked by the US Justice Department over competition concerns.


According to Finextra, AmEx is an existing Plaid investor but this is a first for JP Morgan, whose CEO Jamie Dimon has previously been highly critical of the fintech, accusing it of „improperly using data that’s being given to them”.

Zach Perret, Plaid CEO says:

We built Plaid with a simple vision: if we could create a more open and connected financial system, consumers would benefit from more choice, control and oversight over their financial lives. Today, we are excited to announce funding from J.P. Morgan Private Capital Growth Equity Partners and existing investor Amex Ventures as part of our previously announced Series D, which was led by Altimeter Capital and Silver Lake Partners.

These are storied companies intrinsic to the fabric of financial services, and are important partners. Both J.P. Morgan’s Growth Equity Partners and American Express will be critical in our effort to enable great financial outcomes for consumers and drive innovation in the industry.

As we look to support the massive growth in fintech, we’ll be accelerating our investments in building products that enable an open, easy to use, and secure financial services ecosystem. While we’re still in the early innings of the digital transformation in financial services, we’re excited to work with the thousands of banks, fintechs and non-financial institutions in our network to create what’s next.

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Mihai Draghici – CEO PayByFace

„Dupa ce oamenii creeaza un cont PayByFace si au adaugat cardul, selfi-ul si PIN-ul, si au avut un pic de curaj sa se duca sa incerce, daca au incercat o data plata prin recunoastere faciala nu mai folosesc altceva (n.r. ca modalitate de plata). 80% dintre ei numai asta folosesc. Le place la nebunie.” 

Afla aici rezultatele in adoptia platii prin recunoastere faciala.

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?