Plaid, a company that connects bank accounts to financial applications, is collaborating with Goldman Sachs on a deal to enable early-stage investors and employees to sell existing shares, which is expected to raise between $300 million and $400 million<\/a>, according to Bloomberg.<\/p>\n The tender offer, as such deals are referred to, is likely to value the company lower than its previous financing round. Plaid raised a $425 million Series D at a post-money valuation of $13.4 billion<\/a> in April 2021 in a deal led by Altimeter Capital.<\/p>\n However, since then, higher interest rates have led to lower valuations for many fintech startups.<\/p>\n Plaid did not immediately respond to a request for comment.<\/p>\n While Plaid initially focused on fintech clients, its customer base now includes established financial companies like H&R Block, Western Union, and Citi. The company’s revenue increased more than 25% in 2024, Bloomberg reported last month<\/a>.<\/p>\n