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Plastiq raises $27m to support expansion

Payments platform provider Plastiq has raised $27m in a new financing round joined by Atlas Venture, Khosla Ventures and Top Tier Capital Partners.

Plastiq platform allows customers to use a credit card to pay for virtually all types of bills and business expenses. Users also earn credit card points and early payment discounts.

The company intends to use the funds to launch new payment services, acquire additional clients and expand in the small and medium business market.

Plastiq CEO Eliot Buchanan said: “We have a singular vision to make it easy to pay for virtually any expense with your credit card.

“Whether you are a small business owner looking to take advantage of hard-earned credit to pay for inventory or a commercial lease, or a consumer looking to maximise points by using Plastiq to pay your rent or tuition, Plastiq helps fund your most important payments – the ones you need to grow, compete, and win.”

The firm works with several credit card providers, including Mastercard, American Express, Visa, Discover and JCB.

Till date, it is claimed to have served more than one million clients and processed billions in payments for various expenses.

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