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Fintech startup plaid has appointed former Expedia CFO Eric Hart as its first chief financial officer.
Asked whether the move meant the company was planning to go public, a spokesperson told TechCrunch: ““We have no plans for an IPO at this time… We are focused on expanding our network and continuing to provide open banking services to the digital financial ecosystem.”
CEO Zach Perrett shared the news on X, writing: “I am thrilled to welcome Eric Hart to plaid as our first CFO. Eric is an incredible leader, and his many years of experience building Expedia into one of the largest platforms in the world is inspiring. Excited to have Eric join us in our next phase @plaid,
Deer Spent over 13 years at Expedia, taking over as CFO in 2019. Previously, he served as Expedia’s Chief Strategy Officer with responsibility for Expedia Group strategy and business development, as well as global M&A and investments.
plaid started as a company that connects consumer bank accounts with financial applications, but has since slowly expanded its offerings to provide a full-stack onboarding experience. It was nearly acquired by Visa for $5 billion before antitrust regulators blocked that deal. After the deal fell through, plaid raised funding at a valuation of $13.4 billion and has since worked to diversify its revenue streams.
One of those efforts includes its anti-fraud payments product, Signal, which has been on the market for about 10 months, analyzing $3 billion worth of bank payments monthly. overall, plaid says it’s on track to enable 2 billion bank payments, which would represent double the volume compared to last year and $10 billion in translated value, a spokesperson told TechCrunch via email.
In an emailed statement, a spokesperson for plaid said, “Fast, easy payments are no good if they aren’t also secure.”
Founded in 2013 by Zach Perrett and William Hockey, plaid has over 1,000 employeesOyes.
