Plaid, a US-based firm that connects banks with fintechs, has expanded into the UK.
According to media reports, Plaid intends to hire 25 local staff by next year.
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In a blog post, Plaid’s Keith Grose said: “The UK fintech community is thriving. It’s one of the fastest growing sectors in the UK economy and has produced more than 1,600 fintech companies, a number that is expected to double by 2030.
“As we’ve done in the U.S., Plaid will become the foundation for that growth by providing access to a financial network that allows developers to deliver the experience users expect from their financial apps.”
Plaid already supports Venmo, Coinbase, Acorns and Robinhood, among others.
Last December, Plaid secured $250m in a funding round led by venture capitalist Mary Meeker.
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By GlobalDataThe investment valued the company at more than $2.65bn.
In October 2018, Plaid inked a data sharing agreement with JPMorgan Chase.
The blog post added: “We now support Transactions, Identity, Auth, Balance, and Assets in the UK.
“As a registered AISP, we give fintech businesses instant and reliable access to the most popular banks and neobanks, with more on the way. This is just the starting line.
“We’re building a financial network that will deliver on the promise of open banking with the best in both local expertise and global opportunity.”
