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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Hello. Do you have a link to the article?
What article? Plastiq announced it here: https://www.plastiq.com/blog/press/plastiq-raises-75-million-in-series-d-funding-to-accelerate-rollout-ofintelligent-payments-solution-for-small-and-medium-sizedbusinesses-smbs/
Too bad Plastiq stopped accepting VGCs for paying bills.
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.
That hurt a lot
You mean with the funding they are even less likely to discount?
Sometimes a company will try to increase certain metrics when trying to raise funds
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.
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.