Plaid has held preliminary talks with banks about a potential US IPO, sources familiar with the matter say.
According to Bloomberg, the technology company, whose network allows fintech applications to connect to customer bank accounts, has not made a final decision on the listing. A spokesperson for Plaid declined to comment and provide any additional information.
US-based Plaid was founded in 2013 and has been regarded as a potential candidate for an IPO amid a broader slowdown in fintech listings. The company connects consumer financial data across banking institutions for use by third-party applications.
In April 2025, Plaid raised 575 million USD in a funding round that valued the company at 6.1 billion USD. Earlier this year, that valuation rose to 8 billion USD in a subsequent round. Both figures remain below the 13.4 billion USD valuation Plaid achieved in 2021, during a period of elevated fintech valuations industry-wide.
The company has also expanded its partnerships beyond traditional financial institutions. Plaid recently agreed to enter a partnership with OpenAI to provide ChatGPT users with financial guidance based on data shared between the two companies.
Fintech listings remain scarce
A Plaid listing later this year could position the company ahead of a possible share sale by Anthropic PBC, reportedly under consideration as soon as October 2026. Fintech IPOs have been largely absent from US markets this year, despite a record overall start to 2026 for first-time share sales.
According to data compiled by Bloomberg, US IPOs raised more than 127 billion USD in the year to date, excluding blank-cheque companies and other financial vehicles, a figure driven in part by SpaceX's listing. This compares with 47.4 billion USD raised across the whole of 2025. Fintech-specific activity picked up briefly with listings from Figure Technology Solutions Inc. and Wealthfront Corp. before cooling again.
Investor base includes major financial institutions
Plaid has attracted investment from several large financial firms over its history, including Goldman Sachs Group, Citigroup, Mastercard, and Visa. Goldman Sachs was also engaged last year to manage a tender offer allowing existing shareholders to sell shares.
In 2021, JPMorgan Chase & Co.'s asset-management division invested in Plaid, notwithstanding earlier public criticism from the bank's chief executive officer, who had raised concerns about the company's data practices.
