Plastiq, the only payments company that enables consumers to pay with their credit card of choice regardless of merchant acceptance, has announced that it has raised USD10 million in Series B financing.
This new funding brings the company’s total capital raised to USD20.3 million and will support expansion of the Plastiq payment service across Canada and the US. Plastiq headquarters will also be relocating from Boston to San Francisco.
“At Plastiq, we are laser-focused on bringing payment choice to North American cardholders by enabling them to make payments with their card in instances when they otherwise could not,” said Eliot Buchanan, CEO and co-founder of Plastiq. “Plastiq has met success in Canada with the launch of payment categories such as tuition, income taxes, utilities and more. This round will support us in expanding our service and market, enabling North Americans to pay any organization or business with their existing card through Plastiq even when cards are not typically accepted.”
Ben Ling, Investment Partner at Khosla Ventures, stated: “Plastiq stands out because it requires no merchant integration or involvement; it’s consumer-focused, allowing anyone to make a payment regardless of whether the merchant is part of the ecosystem.”
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