This Week in Startups The future of fintech with Plaid CEO Zach Perret | E1818
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Sep 28, 2023 
Zach Perret, CEO and co-founder of Plaid, shares insights into the fintech world and the company's journey. He discusses the intriguing story behind Plaid's canceled merger with Visa and how it led to a stronger, independent future. Zach also dives into Plaid's origins and the importance of building a community among early customers. The conversation explores the evolving role of fintech in supporting crypto transactions and enhancing consumer banking applications, revealing exciting trends in payment modernization and collaboration within the sector.
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Canceled Visa Acquisition
- Plaid’s planned acquisition by Visa in 2020 was ultimately canceled after regulatory scrutiny and a pandemic-driven shift in market dynamics.
- This led to Plaid’s independent growth and a significant increase in its valuation.
Stricter Antitrust Climate
- The regulatory climate for antitrust has become stricter.
- Tech companies face increased scrutiny, even if acquisitions benefit consumers.
Plaid's Origin Story
- Plaid's origin lies in the founders' struggle to build consumer fintech products, realizing the difficulty of connecting to bank accounts.
- This led them to create Plaid, an infrastructure for fintech-bank interactions.