Working with Goldman Sachs to cooperate in a tender offer of $300 million to $400 million Plaid

Plaid, a company that connects bank accounts to financial applications, is working to enable early stage investors and employees to sell shares to Goldman Sachs. $300 million and $400 million Regarding existing stocks, Bloomberg reported that it cited sources.

As such transactions are called, the tender offer may value a lower company than its previous round of funding. Plaid raised a $425 million Series D at a post-money valuation $13.4 billion In April 2021, a deal led by Altimeter Capital.

However, since then, higher interest rates have arisen Low rating For many fintech startups.

Plaid did not immediately respond to requests for comment.

Plaid initially focused on Fintech clients, but its customer base now includes established financial companies such as H&R Block, Western Union and Citi. The company’s revenues rose more than 25% in 2024, Bloomberg reported. last month.

Fix: Previous versions of this story state that Goldman will buy the stock.