Plaid Sets Eyes on European Expansion After Raising $250 Million

U.S-based financial technology provider Plaid is planning to expand its operations in Europe.

The start-up, which has just raised $250 million funds, is looking to fill not less than 10 Europe-based job positions, according to a review of the company’s jobs board. The new managerial positions include engineering, policy, and sales.

It has always been Plaid’s plan to use its services as a way to financially connect people worldwide. However, the company has yet to announce its specific expansion plan, according to a company spokesperson in an interview.

Once hired, Plaid will assign its U.K. lead to build the company’s presence in London as well as engage with policymakers.

Meanwhile, his or her European counterpart with the same set of responsibilities will be based in Amsterdam.

Plaid builds a financial infrastructure enabling a consumer to interact with their bank account online through various third-party applications, including Venmo, Acorns, Robinhood, LendingClub, Coinbase.

This San Francisco-based startup has already integrated with 10,000 U.S. and Canadian banks. The company also works with several Fortune 50 companies. The sales job vacancies posted on its website, which includes start-ups, middle-sized players and enterprise-level sales imply the company will strive to carry out the same line of services in Europe.

It claims that 25% of people with bank accounts in these North American countries have connected with Plaid using at least one of the multiple apps that leverage Plaid’s application program interfaces (APIs) — up 13% from last year.

This platform enables companies to create financial services applications without the need to hire a team of engineers in developing a tool that interacts apps to the bank accounts of its users, something Plaid’s founders lacked when they are in the process of building a fintech startup years ago.

William Hockey and Zach Perret, two former Bain consultants, found the company in 2012. Currently, Hockey is the chief technology officer, and Perret is the chief executive officer.