According to sources cited by Bloomberg, Plaid, a business that links bank accounts to financial apps, is negotiating with Goldman Sachs to permit staff and early-stage investors to sell their current shares, raising between $300 million and $400 million.
The company will probably be worth less in the tender offer, as these transactions are known than it was in its last round of funding. In April 2021, Plaid, under the leadership of Altimeter Capital, raised a $425 million Series D with a post-money valuation of $13.4 billion.
However, since then, many fintech businesses have seen their valuations decline due to rising interest rates.
An inquiry for comment from Plaid was not immediately answered.
Plaid’s clientele currently includes well-known financial institutions including H&R Block, Western Union, and Citi, despite its early focus on fintech clients. According to a study released by Bloomberg last month, the company’s revenue grew by over 25% in 2024.
According to a previous version of this story, Goldman will pay between $300 million and $400 million for the shares.
