Bill Payment Service Plastiq Raises $75M

Popular bill payment service Plastiq has raised $75 million in venture capital in a series D round led by Capital Group. They have now raised more than $140 million in total. Normally Plastiq charges users a 2.5% to pay a bill with a credit card, but this rate is frequently discounted. It’ll be interesting to see if these discounted rates dry up now that Plastiq has secured this funding.

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Manta
Manta (@guest_946660)
March 26, 2020 22:00

Hello. Do you have a link to the article?

86
86 (@guest_946540)
March 26, 2020 18:03

Too bad Plastiq stopped accepting VGCs for paying bills.

Sevillada
Sevillada (@guest_946606)
March 26, 2020 20:09
  86

That hurt a lot

carroller
carroller (@guest_946814)
March 27, 2020 07:21
  86

Yes, both VGCs and MCGCs – apart from using plastiq to get new CC bonuses, I routinely purchased $500 MCGCs to pay my mortgage with a Blue AMEX (either OLD or BCP) at grocery stores.

bRIAN
bRIAN (@guest_946502)
March 26, 2020 17:18

You mean with the funding they are even less likely to discount?

Peter
Peter (@guest_946487)
March 26, 2020 17:06

The TechCrunch article said that they’re not looking to be profitable (yet), which implies that if anything, there might be more discounted rates because they’re going to want to use their funding to attract new customers and grow.

When they focus on profitability, that’s when we’ll see those discounted rates disappear.

HarryTheFirstHarry
HarryTheFirstHarry (@guest_946591)
March 26, 2020 19:33

I have not seen a discounted rate since the beginning of this year in either of the 2 household accounts other than the 2.49999 or something like that last week. If they are still doing promos, they better hurry up.