Fintech tech startup Plaid selects Triangle for next hub office
Date Published:London. San Francisco. New York. Amsterdam. And soon, the Triangle.
On Thursday, the financial tech startup Plaid announced it will open a corporate office in the vicinity of Durham and Raleigh, adding a fifth hub to its existing footprint in four major cities.
Founded in 2013, Plaid enables people to link their bank accounts with applications like Venmo and CashApp. Its clients include Paypal (which owns Venmo), Zillow and H&R Block.
In 2021, the San Francisco-based company raised capital at a $13.4 billion valuation, making it at the time one of the world’s most valuable startups.
“Think of us as the plumbing that connects banks to the app and the app to the banks,” CEO and co-founder Zach Perret said in a phone interview this week.
A Duke University graduate who grew up in Forsyth County, Perret said his company was searching for an alternative U.S. hub outside New York and the Bay Area. The Triangle emerged as a top candidate due to its universities and lower cost of living.
“I think in some sense, sometimes North Carolina and the RDU area gets overlooked when thinking about amazing technology companies,” Perret, 37, said. “But there are truly amazing technology companies that have been built there.”
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