US open banking fintech Plaid has reportedly reached a valuation of US$8 billion following its latest funding round, according to Bloomberg.

Bloomberg cites sources familiar with the matter, who suggest that the company raised the funds to provide employees with liquidity for their shares.

Founded in 2013, Plaid enables financial institutions to link users’ accounts to apps and services.

With a workforce of over 900, the company facilitates the sharing of data such as account balances and numbers, transaction histories, and personal loan details to support services including lending, underwriting, financial management, payments, and banking.

Investors Ribbit Capital and Silver Lake back the fintech, which last raised US$575 million in April 2025 in a round led by Franklin Templeton.

That investment valued Plaid at US$6.1 billion, a sharp decline from its US$13.4 billion valuation following its US$425 million Series D round in 2021.

Major players such as Venmo, Chime, and Betterment use Plaid’s technology, led by co-founder and CEO Zachary Perret.

The company claims to connect with 11,000 financial institutions across the US, Canada, and Europe.

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