Plastiq

Payment platform for managing expenses

San Francisco, California, United States

About Plastiq

Plastiq provides a payment platform that enables businesses and individuals to pay various bills and expenses using credit cards, even when the recipient does not accept credit card payments. This service is useful for managing cash flow, as it allows users to leverage their credit lines for payments that typically require cash or checks, such as rent, taxes, and supplier invoices. Users can also earn rewards points on their credit cards, which can help offset other costs. Plastiq charges a transaction fee for each payment processed, which is competitive in the financial services market. The platform integrates with accounting software like QuickBooks Online, making it easier for users to track their expenses. Plastiq aims to provide financial flexibility and efficiency in payment management for a diverse range of clients.

San Francisco, CaliforniaHeadquarters
2012Year Founded
$169.9MTotal Funding
SPAC_IPOCompany Stage
Fintech, Financial ServicesIndustries
51-200Employees

Risks

High transaction fees may deter potential customers from using Plastiq.
Bankruptcy filing and acquisition by Priority may create customer uncertainty.
Increased competition from digital B2B marketplaces like Alibaba Guaranteed.

Differentiation

Plastiq allows credit card payments for expenses typically requiring cash or checks.
The platform integrates with QuickBooks for seamless expense tracking and financial management.
Plastiq serves over 150 countries, offering global payment solutions.

Upsides

Economic uncertainty boosts demand for Plastiq's digital payment solutions.
Rising interest rates drive SMBs to seek Plastiq's credit card payment services.
Standardizing electronic invoicing aligns with Plastiq's digital payment focus.