Plaid Welcomes Former Expedia CFO as New Finance Chief

Published 7 months ago

Fintech startup Plaid has announced the appointment of Eric Hart, former CFO of Expedia, as its first-ever Chief Financial Officer. The news has sparked speculation about potential plans for Plaid going public. However, when questioned about this, a company spokesperson clarified that there are no immediate plans for an Initial Public Offering (IPO).

Eric Hart: From Expedia to Plaid

Eric Hart served in various roles at Expedia for over 13 years, including as CFO and Chief Strategy Officer. During his tenure, Hart was responsible for the travel giant’s strategy, business development, global M&A and investments. Plaid CEO, Zach Perret, expressed his excitement about Hart’s appointment, praising his experience in building Expedia into a globally recognized platform.

Inside Plaid’s Diverse Operations

Plaid, initially focused on connecting consumer bank accounts to financial applications, has been gradually expanding its services. The company is now aiming to provide a comprehensive onboarding experience for its customers. In the past, Plaid was nearly acquired by Visa for $5 billion, but the deal was blocked by antitrust regulators. Following this, Plaid successfully raised funding at a valuation of $13.4 billion and has since worked on diversifying its revenue streams.

Plaid’s Anti-Fraud Efforts

Among Plaid’s recent endeavors is the launch of its anti-fraud payments product, Signal. Signal has been active in the market for nearly 10 months, analyzing approximately $3 billion worth of bank payments each month. The company stated it is set to power 2 billion bank payments, doubling its volume from the previous year and reaching a transaction value of $10 billion. In a statement, a Plaid spokesperson emphasized the importance of safety in payments, stating that “faster, easier payments are no good if they aren’t also safer.”