Plaid Raises $2.8M To Make Banking Data More Developer Friendly

TechCrunch

A number of well-known venture firms are getting behind Plaid, a startup that describes itself as “the modern API for banking data.”

The company is announcing that it has raised $2.8 million led by Spark Capital, with participation from Google Ventures, New Enterprise Associates, Felicis Ventures, and Homebrew Capital (the new seed fund from former Googlers Hunter Walk and Satya Patel).

Co-founder Zach Perret told me via email that the team’s goal is to make it easier for developers to build financial applications: “As developers in financial technology ourselves, we struggled with the lack of a unified bank API and the low quality of transactional data – so we decided to build the infrastructure to fix it.” So Plaid says its API offers clean transaction data such as merchant names, addresses, and geocodes.

The startup is currently in private beta, and Perret said the initial clients have…

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