Dec 11, 2018

Plaid raises $250 million, now valued at $2.65 billion

Dan Primack, author of Pro Rata

Photo: Plaid press kit

Plaid, a San Francisco-based app programming platform for banks and other financial services providers, raised $250 million in Series C funding at what Axios has learned is a $2.65 billion valuation. Kleiner Perkins Growth led, and was joined by Andreessen Horowitz, Index Ventures and return backers Goldman Sachs, NEA and Spark Capital.

Why it matters: It's around a 10x valuation bump from where Plaid last raised in 2016, representing how Plaid has become integral infrastructure for top digital finance companies like Acorns, Coinbase, Robinhood and Venmo. As Axios' Kia Kokalitcheva notes, "Plaid is to finance apps what Stripe is to e-commerce."

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Axios
Updated 12 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 20,294,091 — Total deaths: 741,420— Total recoveries: 12,591,454 — Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 5,141,207 — Total deaths: 164,537 — Total recoveries: 1,714,960 — Total tests: 63,252,257 — Map.
  3. States: Georgia reports 137 coronavirus deaths, setting new daily record — Florida reports another daily record for deaths.
  4. Health care: Trump administration buys 100 million doses of Moderna's coronavirus vaccine.
  5. Business: Moderna reveals it may not hold patent rights for vaccine.
  6. Sports: Big Ten scraps fall football season.
  7. World: Anthony Fauci "seriously" doubts Russia's coronavirus vaccine is safe
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Rebecca Falconer
1 hour ago - World

EU threatens Belarus with sanctions amid third night of unrest

Belarus riot police detain protesters in Minsk on Tuesday. Photo: Sergei Gapon/AFP via Getty Images

The European Union warned Tuesday it could reimpose sanctions on Belarus as riot police clashed for a third night with demonstrators protesting this week's elections that the EU described as "neither free nor fair," per the Guardian.

Why it matters: The EU removed most sanctions against Belarus four years ago, after "Europe's last dictator" Alexander Lukashenko released political prisoners and permitted protests, AP notes. The EU said in a statement Tuesday it would be "conducting an in-depth review" into its relations with former Soviet country over his elections win claim and the deadly crackdown on protesters.

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Rashaan Ayesh
5 hours ago - Politics & Policy

Ilhan Omar wins Minnesota primary

Photo: Stephen Maturen/Getty Images

Rep. Ilhan Omar (D-Minn.) won the Democratic primary against lawyer Antone Melton-Meaux on Tuesday evening, AP reports.

Why it matters: The race is one that's played out across the U.S. as progressives continue to sweep party nominations. Omar's win officially means all four progressive members of "The Squad" have won their primary elections.