The American card processing start-up
Plastiq has raised USD 2.35m in its first angel funding all-equity
round.
The investment comes from capital firms Atlas
Venture and Flybridge Capital Partners, according to a notice filed
at the US Securities and Exchange Commission on 11
May.
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The two venture companies regularly
invest in technology innovation start-ups.
Plastiq intermediates online credit card
payment of “large” and “luxurious” purchases – such as
“cars, boats, rent, and real estate” – aimed at high
end credit card holders of Discover, “MasterCard World Elite card,
the VISA infinite, or the AMEX platinum,” says the Plastiq
website.
Plastiq president, Eliot Buchanan, said the
company targets “transactions in the USD 5,000 to USD 10,000
range,” reports an article on Mass High Tech (MHT) website.
Buchanan said Plastic “have upped the
headcount to 10 employees, and by the end of the year, they hope to
be at around 25,” reads MHT article without specifying how Plastiq
will apply the capital raised in the seed funding.
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By GlobalDataBesides presiding Plastiq, Eliot Buchanan is
also a MasterCard employee since February 2011.
