The new funding will give some employees a way to cash out.

The $575 million round was led by a batch of new investors including Franklin Templeton, Fidelity and BlackRock. Existing backers NEA and Ribbit Capital also participated, Plaid said.

Plaid is a financial technology platform that enables applications to connect with users' bank accounts. Headquartered in San Francisco, Calif., Plaid focuses on lowering the barriers to entry in financial services by making it easier and safer to use financial data. The team builds beautiful consumer experiences, user-friendly infrastructure, and intelligence tools that give everyone the ability to develop the future of financial services.