Plastiq closes second round of venture funding

Secured funding

Plastiq, an online payments solution provider based in Boston, Massachusetts with offices in Toronto, Canada has closed a USD6m round of Series A financing. The round was jointly led by venture capital firms Atlas Venture and Flybridge Capital Partners. Investors from the previous round, NextView Ventures and Greenoaks Capital Management LLC, also participated alongside angel investors including Harvey Golub, former Chairman and CEO of American Express.

Jeff Bussgang, general partner at Flybridge Capital Partners said: “The early traction the company has achieved is amazing. With its innovative vision, state-of-the-art product, and strategic partnerships, Plastiq is well positioned to transform the payments industry.”

The Plastiq online platform allows consumers to use their credit cards for payments in situations when they previously could not. The firm charges consumers a nominal fee for each transaction, historically charged to the merchant, for the added flexibility to strategically use their preferred credit cards. The Plastiq platform allows consumers and merchants to transact from anywhere in the world at any time from any internet-enabled device.

Dan Choi, COO and Co-Founder stated, “Last year’s initiatives demonstrated consistent demand for our service, and I’m excited to see continued growth in 2013.”

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