Posted by William Charles on March 26, 2020
Misc

Published on March 26th, 2020 | by William Charles

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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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Peter
Peter

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

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.

bRIAN
bRIAN

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

86
86

Too bad Plastiq stopped accepting VGCs for paying bills.

Sevillada
Sevillada

That hurt a lot

carroller
carroller

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.

Manta
Manta

Hello. Do you have a link to the article?

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