Fintech Company, Plaid, Opens Engineering Hub in Salt Lake City
Salt Lake City— Plaid, the technology platform that allows consumers to connect their bank accounts to digital financial services applications like Venmo, Acorns and Coinbase, today announced it is opening an engineering hub in Salt Lake City. Plaid plans to hire 50 engineers by the end of the year in the new office located in downtown Salt Lake. Plaid has hired University of Utah Computer Science Grad and engineer, Kira Booth, to lead the engineering team.
The new engineering hub will continue to build integrations for more than 10,000 banks and financial institutions in the U.S. to enable people to connect their accounts to fintech applications, regardless of where they bank. Millions of consumers now rely on digital services to manage their financial lives, with 1 in 4 people with U.S. bank accounts having used Plaid to connect to a fintech app.
“Plaid is adding the best and brightest talent to facilitate an ‘everybody wins’ financial system where technological innovation, protection of personal data, and consumer choice and control are all possible,” said Ms. Booth. “As the Utah Computer Science Grant Act (HB227) heads to Governor Gary Herbert’s desk for his signature, Plaid is focused on laying the foundation for fintech for decades to come, and is excited to lay down roots in a location that is equally as invested in the future of engineering and innovation.”
“We could not be more excited that Plaid has selected Salt Lake City as its new home for engineering,” said Theresa Foxley, President and CEO of the Economic Development Corporation of Utah. “Utah has a deep talent pool of software engineers, and Plaid’s role in powering the fintech ecosystem provides a unique opportunity for Salt Lake City to become the next innovation hub defining the future of financial services.”
This expansion comes on the heels of a $250m series C funding round the company announced in December of last year. Earlier this year, the company was named to the Forbes Fintech 50 list and received recognition as a Most Innovative Company by Fast Company.
Plaid is the technology platform and data network providing the tools and access needed for the development of a digitally-enabled financial system. Plaid makes it easier for developers—from the smallest startups to the largest financial institutions—to build innovative financial services and applications. Plaid’s infrastructure makes it possible for companies like Blend, Robinhood, Acorns, Betterment, Coinbase, Venmo and hundreds more to serve their customers, regardless of where they bank, allowing them more insight and control into their spending, investing, budgeting and their overall financial well being. Plaid has 300 employees across San Francisco, New York, and Salt Lake City.