Plaid is a world leading Open Banking platform. We use our global network and local expertise, so your customers can see their financial data and make payments from your app.

We have a single API, but we don’t believe in one-size-fits-all. We bring together the technology of PIS (Payment Initiation Services) and AIS (Account Information Services) so you can create the payments journey your business needs.

Active since
2012

Head office
San Francisco, CA

Founder(s)
Zach Perret and William Hockey

Funding rounds and investors
USD 425 mln Series D April 2021;
USD 250 mln Series C, Dec. 2018;
USD 44 mln Series B, June 2016;
USD 12.5 mln Series A, Jan. 2015;
USD 2.8 mln Seed, Sept. 2013.

Service provider type 

Open Banking enablers
API connectivity for payment initiation
API connectivity for data retrieval & value-added services on the data
Consent management
Fraud/risk/security
Digital core banking infrastructure/platform

How it works
This information is not yet available.

What problem does the company solve
Plaid works with thousands of companies like Venmo, SoFi, and Betterment, several of the Fortune 500, and many of the largest banks to make it easy for people to connect their financial accounts to the apps and services they want to use.

Types of supported APIs\API standard supported
Plaid’s network covers 11,000 financial institutions across the US, Canada, UK and Europe.

Industries/target markets
Plaid’s network covers 11,000 financial institutions across the US, Canada, UK and Europe.

Geographical coverage (operational area)
US, Canada, UK, and Europe

Business model/pricing
Custom

Technology
Cloud enabled/native cloud/on premises/hybrid

Software language
This information is not yet available.

Software development tools
This information is not yet available.

When was the core technology developed
2012

Do you have redundancy and coverage provided by multiple integrations (APIs & Direct Access)?
Yes

How will you handle automated refunds?
Plaid will offer a full-suite of refund and payout products to make life easier for merchants and PSPs alike. Making payments simple is one of our goals - making them simple to reverse is another.

How will you mitigate the risk of bank transactions failing?
Plaid works closely with banks to monitor traffic and uptime, reporting back issues on a regular cadence. Our status webhooks makes monitoring individual transactions easy, and our payment confirmation and reconciliation products ensure that customers always know where their money is.

How will you reconcile payments efficiently?
Plaid reconciles payments and provides reconciliation functionality via API. We send webhooks when the money has landed, and programmatic references make it easy to tie individual payments to users.

Partners
Railsbank, Currencycloud (will be out in the next month or so) 

Customers / Case studies

Curve - https://plaid.com/blog/curve-and-plaid-team-up-to-make-money-easier/ 

Paysend - https://plaid.com/blog/paysend-and-plaid-working-together-to-make-international-money-transfers/

Awards 
Plaid named a Leader in Open Banking by Forrester™ (Q1'21). 'Plaid has the strongest all-around capability, footprint, and vision. Plaid has a long pedigree of data aggregation, scoring highly for flexible deployment via banking platforms and payment networks'.

Business revenue
Privately held