Plaid Scores $575 Million

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Plaid&comma; a data network that connects banks and apps&comma; has raised &dollar;575 million led by mutual fund managers Franklin Templeton and Fidelity Management and Research&period;<&sol;p>&NewLine;<p>Other participants in the round include existing Plaid investors NEA and Ribbit Capital&period; The company says proceeds of this round will be used to address employee tax withholding obligations related to the conversion of expiring RSUs to shares&comma; and to offer some liquidity to current employees that want to sell their shares&period;<&sol;p>&NewLine;<p>CEO Zach Perret said on the company blog that the new fundraise comes on the heels of a substantial growth year for Plaid&comma; with record revenues&comma; a return to positive operating margins&comma; and an increase in the companies and markets it serves&period; Perret revealed that more than 1 in 2 Americans have used Plaid&period;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;