Plastiq Secures $6 Million in Series A Funding
March 4, 2013
Online payment solutions provider Plastiq has netted $6 million in Series A financing. The Boston-based company offers online credit-card payments in situations where traditionally they are not accepted, including for big-ticket items, tuition, taxes and rent. The company persuades merchants in these industries to accept cards by charging consumers the per transaction fee merchants normally would pay. Atlas Ventures and Flybridge Capital Partners led the round.
“I first met Dan Choi and Eliot Buchanan (Plastiq’s founders) at Harvard’s i-lab when they were undergraduates and watched them develop their concept to reality,” said Jeff Bussgang, general partner at Flybridge Capital Partners. “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.”
Also involved in the financing were NextView Ventures, Greenoaks Capital Management LLC and Harvey Golub, former chairman and CEO of American Express.