Portco highlight: Plaid

Fintech

capital

Republic Capital made an investment in Plaid in Q3 2021

In portfolio since	Q3 2021
invested amount	$16,418,554
Republic net carry	6.13-7.12%
Note eligibility	25% of NET profit if sold

Plaid is a foundational player in fintech infrastructure. Its APIs power connectivity between over 12,000 financial institutions and more than 8,000 consumer and enterprise apps. Today, Plaid touches more than half of Americans' financial interactions, with over 100 million users having engaged with Plaid-enabled services.

Plaid’s products are the bedrock upon which many of the most well-known financial brands are built – companies like Affirm, Chime, Robinhood, and SoFi. In 2024, Plaid began using real-time cash flow data to help businesses go beyond credit scores when assessing consumer risk levels, opening new avenues for immigrants, gig workers and others with limited credit profiles to access loans. It recently made it to TIME’s 2025 list of the 100 Most Influential Companies.

Since its founding in 2012, Plaid has raised over $1.3B from backers including Franklin Templeton, Norwest Venture Partners, Andreessen Horowitz, BoxGroup, and BlackRock. In April 2025, the company closed a $575M round at a $6.1B valuation. Leadership has publicly indicated this is likely the final private raise before a potential IPO, though no listing is planned for 2025.

With global open banking adoption accelerating—projected to grow from $29.6 billion in 2025 to $306.6 billion by 2035—Plaid is positioned to serve as a utility layer for the digital financial ecosystem. The company is investing in analytics, fraud prevention, credit tools, and embedded finance infrastructure to support the next generation of financial services.

The Note offers indirect exposure to innovative companies like Plaid, giving you a way to participate in the outcomes of venture-backed startups.

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