JP Morgan Private Capital Growth Equity Partners and AmEx Ventures have both invested in open banking platform Plaid.
In Brief:
The two businesses have topped up Plaid’s Series D round.
It was most recently valued at $13.5bn before the round was extended.
AmEx already invests in Plaid but JP Morgan has not invested before.
What does this mean?
The amount of funding has not been disclosed, but further backing from two big names in banking and payments is a positive after its deal with Visa was blocked.
