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Consumer-permissioned financial account connection.
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Private markets
Financial Technology · Financial Data Infrastructure
Plaid
Connects financial applications with consumer and business financial accounts.
- Research status
- Research coverage
- Headquarters
- San Francisco, CA
- Coverage
- 5 product lines mapped
- Last reviewed
- September 2026
Product map
What the company builds
Products and operating platforms help connect company-level news to the revenue pools, customers, competitors, and supply chains it may affect.
Transactions
Normalized transaction and account data.
Identity
Account-holder verification data.
Signal
Bank-payment risk assessment.
Transfer
Money-movement infrastructure.
01 / THE BUSINESS
How Plaid creates value.
Financial-account connections, data services, payment tools and risk products support other applications. The business depends on reliable access, regulatory permissions and measurable customer value.
SectorFintech
Founder coverage2 profiles
Research checkedSep 18, 2026
02 / PEOPLE BEHIND THE COMPANY
Meet the builders.
Co-founder
Zach Perret
Zach Perret is a co-founder of Plaid. The company’s founding and leadership material provides context for its work in financial data infrastructure.
Explore founderCo-founder
William Hockey
William Hockey is a co-founder of Plaid. The company’s founding and leadership material provides context for its work in financial data infrastructure.
Explore founderSelected founders; historical founding roles are distinct from current management positions.
03 / CAPITAL & OWNERSHIP
Follow the financing.
Selected disclosed events, newest first. Announcement values describe that transaction and date; they are not current share prices. Debt, equity and secondary transactions are identified separately.
- Equity / employee liquidity
Company financing
Disclosed amountApproximately $575MNot disclosedNot disclosedNamed participants: Franklin Templeton · Fidelity Management & Research · NEA · Ribbit Capital
The company says proceeds address employee tax withholding and provide some team liquidity; do not treat the full amount as growth capital.
Read the announcement
Explore the named investors.
Names refer to the cited transactions. They do not establish current ownership, ownership percentages, or endorsement of this website.
04 / IN THEIR OWN WORDS
Watch. Listen. Form your view.
Plaid
Plaid — company videos
Product demonstrations, company presentations and original updates. Browse the channel for the latest available material.
Visit original material ↗Interviews reflect the speaker’s perspective at publication. Company statements are not independent verification.
05 / EDITORIAL ANALYSIS
The opportunity. The open questions.
Our interpretation of the business model and cited sources, not a valuation or a recommendation.
The case to investigate
- Its position as infrastructure between financial institutions and software applications.
- A stronger product position becomes economically meaningful when customers renew, expand and pay enough to cover delivery costs.
Pressure-test the thesis
- Regulation and privacy.
- Bank-led alternatives.
- Customer concentration.
What to watch next
01
Connection growth — what changed in the latest original disclosure?
02
New payment products — what changed in the latest original disclosure?
03
Bank relationships — what changed in the latest original disclosure?
YOUR RESEARCH WORKSPACE
Keep the questions that matter.
Use this checklist to record what you have investigated. Your notes stay in this browser.
06 / RESEARCH TRAIL
Go straight to the source.
Research checked Sep 18, 2026. Selected public disclosures, not a complete capitalization table or securities-filing search. Missing information is left unconfirmed. No investment availability or IPO date is implied.
Its position as infrastructure between financial institutions and software applications.
Private-company information is incomplete, episodic, and difficult to verify. Treat every data point as a starting point for diligence—not a substitute for company-approved materials, legal review, or investment analysis.
Add to my private currentSignals to monitor
Connection growthNew payment productsBank relationshipsRisks to underwrite
Regulation and privacyBank-led alternativesCustomer concentration Underwriting map
What an investor should actually diligence
Disaggregate software, interchange, payments, lending, deposits, and services. Growth quality depends on customer retention, loss rates, funding economics, regulatory durability, and attach across products.
Buyer map
01
Finance teams
02
Small and midsize businesses
03
Large enterprises
04
Financial institutions and developers
Economics to request
01
Revenue by product and monetization source
02
Customer acquisition and payback
03
Payment volume and take rate
04
Credit losses and funding costs
05
Net retention and multi-product adoption
Moat tests
01
Data advantage improves underwriting or automation
02
Workflow attachment reduces price sensitivity
03
Unit economics remain attractive through cycles
04
Compliance capability supports expansion
Milestone map
01
New product adoption
02
International or segment expansion
03
Improved loss and margin profile
04
Regulatory or banking partnership
Comparable lensesPayments networksExpense softwareDigital banksFinancial-data infrastructure
Underwriting framework
How to diligence Plaid
A company-specific starting point based on the operating realities of financial technology. Replace assumptions with verified company materials, customer evidence, legal documents, and expert work.
Revenue mix: software, interchange, interest and payments
Loss rates and credit exposure
Customer acquisition and payback
Deposit, funding and partner-bank concentration
Primary-account behavior
Retention through a credit cycle
Multi-product adoption
Regulatory and partner-bank durability
Payments networks
Banks and card issuers
Spend-management software
Financial-data infrastructure
What revenue disappears if rates change?
Who owns the customer relationship?
Where is regulated activity housed?
What losses emerge in a downturn?
No securities are offered here.
SMYC does not represent that shares are available, transferable, appropriately priced, or suitable for any person. Private securities are illiquid, speculative, subject to transfer restrictions, and may result in total loss.