Plaid’s Post

🚀 Plaid's growth into enterprise services is really impressive! With over 1,000 new enterprise customers in the past year alone, their expansion into lending, identity verification, and more is clearly paying off. 💸 It's impressive how they're diversifying their revenue streams and scaling beyond their traditional market. Can't wait to see how their new products like Layer reshape user experiences across industries. Plaid's future IPO plans definitely add to the anticipation! 🌟 #Fintech #EnterpriseGrowth https://lnkd.in/gupP2tnK

From an intellectual and strategic perspective, Plaid has long been one of my favorite companies to study. It’s a classic network effects business with true platform potential. It is also been a critical catalyst in the fintech renaissance that birthed a wave of innovative experiences we rely on every day. We first wrote about Plaid in 2021, shortly after it stepped away from Visa’s $5.3 billion acquisition offer. It now feels like an apt time to re-assess its potential as an independent company. What we discovered in our research affirmed our interest and surprised us. Plaid is no longer a solo product with some intriguing add-ons – it’s a true multi-product business spanning payments, identity verification, fraud prevention, credit, and more. With relatively little fanfare, CEO Zachary Perret has deepened his company’s moats, expanded overseas, and stacked an impressive group of senior executives. The result is a company that looks well-equipped to make the most of its second decade and capture the tens of billions in upside some investors believe are up for grabs. To learn more about the $13.4 billion financial network, jump into our newest case study:

From an intellectual and strategic perspective, Plaid has long been one of my favorite companies to study. It’s a classic network effects business with true platform potential. It is also been a critical catalyst in the fintech renaissance that birthed a wave of innovative experiences we rely on every day. I first wrote about Plaid in 2021, shortly after it stepped away from Visa’s $5.3 billion acquisition offer. It now feels like an apt time to re-assess its potential as an independent company. What I discovered in my research affirmed my interest and surprised me. Plaid is no longer a solo product with some intriguing add-ons – it’s a true multi-product business spanning payments, identity verification, fraud prevention, credit, and more. With relatively little fanfare, CEO Zachary Perret has deepened his company’s moats, expanded overseas, and stacked an impressive group of senior executives. The result is a company that looks well-equipped to make the most of its second decade and capture the tens of billions in upside some investors believe are up for grabs. To learn more about the $13.4 billion financial network, jump into our newest case study: https://lnkd.in/eKzzEWZd

In today's daily download: - Startups (especially #payments & #fintech) face a pivotal year; - Payfacs are leading the way with #embeddedpayments; - Banks are more active with #BaaS & fintech offerings; Lastly, we're here to support workers from the Brex layoffs -- if you (or a colleague) need support in finding your next role, we're happy to help with connections, strategizing on open roles, and featuring guest posts highlighting their thought leadership! 📰 Check it out (and if you're not a subscriber, signup today -- it's free); https://lnkd.in/gtpiJhWr

How much face time should a CEO spend with an incoming executive? For Plaid CEO Zachary Perret, the answer is 45 minutes every day. When Head of Payments John Anderson’s joined, Perret scheduled 45 minutes for him and Anderson to walk and talk every morning – for his first two months. It’s hard to overstate how significant this investment is for the CEO of a fast-growing decacorn business. But the investment made an impression. “It was something I’d never experienced before,” Anderson said. “It was a huge commitment of time that he made, and it really helped me get up to speed fast.” Recruiting is a key element of the CEO role, and getting the right people can often be a long process. But finding the critical hire and convincing them to join is just the start. You then have to set them up for success. As Anderson said about Perret, “He’s extremely patient. He plays the long game.” To read more on the long game that Plaid is playing, check out this week’s piece: https://lnkd.in/eKzzEWZd 

Stripe secures third acquisition to enhance transactions https://ift.tt/zY5I3HW Leading fintech firm, Stripe, has recently secured its third acquisition in just over a year of a global sales tax calculator. This acquisition aims to enhance Stripe’s merchant of record capability, streamlining seamless transactions for customers and bolstering risk management for merchants. Stripe’s CEO, Patrick Collison, highlighted the move as a testament to the company’s commitment to continous platform innovation that caters to the evolving needs of its clients. Collison remains optimistic about the acquisition’s potential to expand Stripe’s global footprint. In other fintech news, the Canadian legal tech firm Clio marked a significant financial leap since integrating payment channels into its platform in 2022. Its Annual Recurring Revenue (ARR) crossed the $200 million mark, an example of how payment channel integration can transform businesses. Digital banking startup Mercury stirred some controversy by apparently cutting off services for U.S. customers in specific countries, later clarified to only affect founders residing in Ukraine. Egyptian fintech company Paymob leveraged the funds from its latest fundraising round to acquire Tam Finans, indicative of its strategic plans to make headway into the Turkish market. The U.K’s Zopa Limited garnered authorization from the Prudential Regulation Authority while Indian startup Jupiter reaped significant funding for customer management and cash flow systems enhancements. Stripe’s prosperous journey through acquisitions In Australia, neobank Xinja secured an investment to propel mobile banking services, and Brazilian fintech Nubank witnessed a substantial increase in its user base. U.K’s Monzo Bank and American startup Chime announced innovative features to boost customer satisfaction. The fintech industry paints a promising future, teeming with potential for heightened profits and investor interest. Technological breakthroughs like blockchain and mobile banking are reshaping traditional finance sector operations, creating space for further innovation. The increasing variety of financial products and services are diligently addressing consumer needs. As a result, the fintech industry is primed for success with ample opportunities for profit and investment, attracting a multitude of startups eager to capitalize on this trend. The fintech industry is on an upward trajectory, pointing to a future filled with expansive growth and development. The post Stripe secures third acquisition to enhance transactions appeared first on KillerStartups. Business News via KillerStartups https://ift.tt/4qURGE0 August 2, 2024 at 07:12AM

2 updates dropped into my inbox this morning and I wanted to write about these. Plaid has announced it's Open Finance Solution. I am a big fan of Plaid and very happy to read this. This is also not far from what I had designed for Opnfi after having successfully executed Pay By Bank in a leading Southeast Asian market. Conditions were not right here at the time to build further on it. But things change. Tech changes. Efficiencies improve. Friends come along to help. People come along who share your perspective. So it wasn't then, so now it is. Nxtgen Payment Infra continues to pursue the Open Banking programme with it's partners from where I left off previously. I strongly believe that this has a massive future in #Asia. Our LendAPI partnership is a key building block in that, especially at the community banking level. And together we bring a lot more to lenders. #Openbanking can ensure resilience and returns for consumers and institutions in an increasingly volatile future with force majeure events growing in intensity and frequency. Transparency, privacy, protection, right of ownership and origination-these are the hidden virtues it offers. Which brings me to the sustainability report from The Ascott Limited. This is most admirable for a corporate in hospitality. As disclosure needs across companies grow, so will calls for action. Our strong strategic tie-up with The Intelligence Factory is here to help strategize against uncertainties through data graphs, machine learning and 3D simulation. Opportunities arise from remedial measures to tackle climate issues and local weather problems. We bring the data science, thought processes and visualization required. I like the idea of working with friends who have strong ethics. Those matter above all. It's very hard work and frugality is a given. If you get LinkedIn lessons on bootstrapping, let me tell you the boots are meant for walking, not ruminating. But the enjoyment is, to borrow a cliche, priceless. We have one life-let's make it count. Matthew Lamons Timothy Li

Here’s how fintech Rainforest, a budding Stripe rival, aims to win over software companies - https://lnkd.in/dBGvps8S - Rainforest raises $8.5M and PayPal gets hit with a lawsuit. We take a look at this and other hot fintech news from the previous week. - ShipWr3ck - \<div\>Rainforest raises $8.5M and PayPal gets hit with a lawsuit. We take a look at this and other hot fintech news from the previous week.\</div\> ~ Shared by https://shipwr3ck.com/

Change is inevitable in the world of finance. The question, then, is not if changes will come, but instead: are we prepared to embrace it? In an intriguing new FinMag article, we lift the curtain on a promising FinTech startup: Magic. Based in San Francisco, Magic is transforming the way merchants accept bank payments, with an audacious goal: to eliminate credit card fees, order churn, and ward off chargebacks altogether! Curious how this up-and-coming disrupter plans to turn the financial sector on its head? Learn directly from the innovative minds of Magic's astute founders, Chetan Kulhari and David Guo, here: https://lnkd.in/e84vWH5v Don't miss this chance to witness the power of FinTech to catalyse change and bring about a revolution in merchant payments. #FinTech #Finance #Startups #Innovation #MerchantServices #Magic #DigitalPayments For more insight, connect with Magic on Linkedin: https://lnkd.in/ePFV4Yrs

We compare Stripe's latest valuation to Adyen's valuation, after Adyen's difficult H1, in Rudy Yang and my latest Fintech and Payments Comp Sheet and Valuation Guide. You can review Stripe and Adyen's valuation multiples here. https://lnkd.in/eQA3zwUG