Congratulations, Plaid!
BY: Santo Politi

A huge congratulations is in order today for founders Zach Perret and William Hockey, and the entire Plaid team as they join Visa.

We are proud to have been involved with Plaid since the very beginning. Back in 2013, Mo Koyfman and David Haber, friends and former Spark colleagues, met Zach and William, two young founders who were leaving the consulting world on a mission to make it easier for developers to build financial applications. We fell in love with their enthusiasm, and Mo led Plaid’s seed round for Spark. Shortly after that, in 2015, we co-lead their Series A with our friends at NEA.

A mere three years after our initial investment, the founders had taken the company from a concept to a private beta working with a few banks to becoming the infrastructure that consumers relied on to connect their bank account to third-party apps like Venmo, Coinbase, and Robinhood.

Seeing first-hand the speed at which Zach and William shipped product and their ability to be an invaluable partner to the financial services industry, we were eager to deepen our commitment and partnership with the company. In 2016, Spark Growth and Goldman Sachs led the company’s Series B, and later we participated in their Series C round in 2018.

As a board member of the company for the last four years, I have had the pleasure of being a small part of Zach and Will’s journey. They grew from first-time founders to skilled company builders, transcending any and all problems with high integrity, attracting senior executives to the company, and building a culture we can all be proud of! The founding team merged extraordinary technical abilities with a deep understanding of product design and consumer needs. This rare combination, which we look for in all founding teams, has allowed Plaid to provide consumers with access to thousands of financial services that simply did not exist prior.

Today’s news is a massive testament to the talent and unwavering commitment Zach, William, and the entire Plaid team have demonstrated from day one. We congratulate Plaid on this tremendous accomplishment, and we look forward to this next phase.

The entire Spark team and I are grateful to have been part of Plaid’s journey, and we look forward to the road ahead!

Spark partnered with Plaid in 2013, leading their Seed round, and co-leading their Series A in 2014.
In 2020, Plaid was acquired by Visa for $5.3b.