Plaid Talks With Banks About Potential IPO

Plaid has held preliminary discussions with banks about a potential initial public offering, Bloomberg reported Wednesday (July 1), citing unnamed sources.

The company is considering the move but has not made a final decision, according to the report.

Plaid did not immediately reply to PYMNTS’ request for comment.

The company’s chief financial officer, Seun Sodipo, told The Wall Street Journal in March that preparations for an IPO were ongoing but that the company was not racing to go public.

Sodipo declined to comment on the timing for a potential IPO but said it was not imminent.

“My key focus is, first of all, to build a company that can exist as an independent company that delivers long-term, durable, sustainable growth,” Sodipo said at the time. “What drew me to Plaid is, this is a company that I know has every right — that we’re building into a company that can withstand the scrutiny of public markets.”

Plaid said in April 2025 that it raised $575 million in new funding. CNBC reported at the time that the round valued the company at $6.1 billion.

Zach Perret, co-founder and CEO of Plaid, told CNBC in April 2025 that the company was not ready to go public, but that the funding round would be its last private fundraising until its IPO.

“An IPO is absolutely on our path for the coming years,” Perret said. “We haven’t assigned a specific timeline to it. We still have a lot of internal work to do. We’re not ready, which is why we didn’t consider it right now.”

PYMNTS reported Monday (June 29) that Plaid launched a sequential foundation model that reads the order and timing of a consumer’s full transaction history rather than reducing it to a single score. In early tests, the model cut default risk by 13.6% at a 70% approval rate and reduced losses from returned payments by 26.5%.

In some other recent moves, Plaid partnered with Fin to enable FinTechs and financial institutions to help their end users connect or reconnect their bank accounts securely within Fin Messenger chat; introduced a tool designed to help customers make smarter ACH payment-related decisions; and launched an integration with Perplexity that lets the artificial intelligence platform’s users link bank accounts, credit cards and loans directly inside the platform to analyze spending and perform other tasks.