Supporting Amsterdam’s FinTech scene
Plaid, a San Francisco-based company offering a platform that allows finance and FinTech applications to connect with user bank accounts, is opening a new office in Amsterdam. By providing technical infrastructure, it will help connect developers, financial institutions and consumers while making it easier for Dutch companies to do business abroad.
Currently, Plaid’s platform is used by thousands of apps and services, including TransferWise, Venmo and Coinbase, as well as more than 11,000 financial institutions across Europe, Canada and the US.
Creating an interconnected digital financial ecosystem
By creating a more interconnected digital financial ecosystem across the globe, Plaid helps consumers enjoy greater control over their money by providing FinTech companies a platform for offering new innovations that can simplify tasks like sending funds to family and friends.
The company’s first international office is located in London and it began offering support to British banks in 2019. Since then, its UK division has grown to roughly two dozen employees and it has expanded its coverage to include France, Ireland and Spain. In Amsterdam, it expects to assemble a team of roughly 50 people over the next few years.
A global centre for financial innovation
Amsterdam has long been a leader in financial innovation. The world’s first central bank was established in the Dutch capital, along with the first joint-stock company. Roughly 20,000 people in the Netherlands work in FinTech, and most of them are based in the city, which is home to international institutions like the Bank of Tokyo-Mitsubishi and the European Investment Bank.
Major FinTech events are held in Amsterdam every year, including Money20/20 Europe, which attracts more than 350 speakers. Adyen, the city’s first unicorn, is the EU’s most valuable FinTech startup and worth roughly $25 billion. Other FinTech companies, including Azimo, Currencycloud and PayPal, have opened offices here as well.
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