Following this announcement, the existing shares are expected to rise between USD 300 and USD 400 million, as the deal is set to value the company lower than its previous financing round.
In addition, the company will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Plaid represents a company that provides users with optimised digital financial experiences, as its Open Banking network and payments platform was developed in order to deliver an easier way to build fintech products and services. In addition, its solutions and experience aim to provide an improved way to onboard customers, as well as to enable them to connect and pay from current accounts more easily and securely. While Plaid has initially focused on fintech customers and partners, its client base currently also includes financial companies, making its revenue increase more than 25% last year.
This current initiative is set to enable the company to raise funds while offering liquidity to early-stage shareholders and employees, who could cash out on their existing stakes. The details of the potential share sale could be subject to change, as the move has not been finalised and the company did not provide any further comments on the matter. For more information about Plaid , please check out their detailed profile in our dedicated, industry-specific Company Database.
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