Plastiq gets $27m funding to its credit
San Francisco-based paytech Plastiq has raised $27 million in additional financing from Atlas Venture, Khosla Ventures and Top Tier Capital Partners.
The firm offers a way to pay bills and business expenses by credit card. It will use the funds to roll out new services and target the small business market.
“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 maximize points by using Plastiq to pay your rent or tuition,” says Eliot Buchanan, Plastiq CEO.
The company works with “all major credit card providers”, including American Express, Discover, Mastercard, Visa, and JCB.
It says its payments platform has served more than one million clients, processing billions in payments for expenses, business supplier payments, contractors, taxes and rent.
The firm, which was founded in 2012, is doing pretty well as it has recently expanded its leadership team.
Noah Goldberg joins Plastiq as head of operations. An early employee of online ticket exchange StubHub, he led operations until the firm was acquired for $300 million by eBay.
Robert Mahnke was appointed general counsel and head of compliance. He brings 20 years of legal experience and payments expertise from legal roles at PayPal and eBay.
Serena Satyasai joins as head of marketing and SMB sales. A former Google and YouTube executive, she has experience growing small business products.
In addition, it has added new board members and advisors. Karen Appleton Page a former Apple executive and founding executive at Box joins the Plastiq board of directors. Sam Garvin, vice-chairman of the Phoenix Suns and a Plastiq investor is now also serving as an advisor to the company.