Fintech startup Plaid Technologies securing data access for financial institutions raises 44 million US dollars

7 February 2017

A San-Francisco based company providing secure access to financial data and financial analytics for fintech sector players Plaid Technologies, raised 44 million US dollars in a fundraising round B. Reports show that the latest fundraising series was joined by venture units of Citi and American Express in a move to support Plaid in its product development for enhanced security and top quality financial data.

Plaid Technologies has been present at the market since 2015 having entered into many agreements with various companies and non-governmental organizations including charity funds. API of Plaid allows developers to get access to bank accounts and also ensures secure access to transactional data and authentication instruments, minimizing the fraud cases.

Fintech industry is thriving with continues financing funneled into the market. Last week Wells Fargo concluded a deal with Intuit over data exchange whereunder customers of Intuit may import information from their accounts without any need to uncover their username or password.

Last month JPMorgan & Chase Co. also stroke a deal with Intuit to enable Chase consumers to introduce their account data into such finance management tools as Mint, TurboTax Online and QuickBooks Online.

Last June Plaid Technologies also raised 44 million US dollars in the fundraising round led by Goldman Sachs Group Inc.

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