# Isibit

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/isibit

- Industry: Software
- Headquarters: Guadalajara, Mexico
- Website: www.plerk.io
- Total disclosed funding: $12M
- Latest round: Series A (Aug 29, 2022)
- Investors on record: 4

## About

Based in Guadalajara, Mexico, Isibit, Inc. operates as Plerk, providing innovative employee benefit solutions to enhance workplace experiences through prepaid cards and digital wallets.Isibit, Inc., founded in 2021 and headquartered in Guadalajara, Mexico, offers employee benefits solutions through its platform Plerk. Recently, on February 20, 2023, the company merged with Minu Servicios, S.A.P.I de C.V. to broaden its financial wellness services for employees in Mexico. The merger aims to enhance the offerings available to businesses and their employees. The company has received a total funding of USD 12.00 mn in its latest Series A round led by Upload Ventures, with participation from 500 Global, MGV Capital Group, and Magma Partners, among others. Isibit, Inc. has completed a total of 3 deals.Plerk, in partnership with Minu, provides a comprehensive suite of employee benefits tailored for the Mexican market. Their primary products include prepaid cards and digital wallet solutions that allow employees access to various benefits such as meal vouchers and other financial perks, addressing everyday expense management and improving financial wellness. They cater to businesses across diverse sectors, including retail, hospitality, and technology, aiming to enhance employee satisfaction and attract top talent.Plerk's revenue model is based on B2B partnerships, where businesses subscribe to their services to provide employee benefits. Clients pay through a structured fee model that includes monthly subscriptions and transaction-based fees tied to the prepaid cards and digital wallets. This model integrates seamlessly with existing employee compensation structures, ultimately driving employee satisfaction and productivity, with the prepaid cards being the main revenue driver.Following the merger with Minu Servicios, S.A.P.I de C.V., Isibit, Inc. is set to expand its product offerings in the employee benefits space. The recent funding from the Series A round will be utilized to enhance their financial wellness services and further penetrate the Mexican market. The company's strategy includes launching new product features aimed at improving the user experience and exploring potential expansions into additional Latin American markets by the end of 2024. This growth initiative will leverage the combined strengths of both Plerk and Minu in delivering advanced employee benefit solutions.

## Funding rounds

- Series A, Aug 29, 2022, $12M — 500 Global, Magma Partners, MGV Capital Group, Upload Ventures

## Investors

- 500 Global (https://capitalatlas.ai/funds/500-global) — Series A
- Magma Partners (https://capitalatlas.ai/funds/magma-partners) — Series A
- MGV Capital Group (https://capitalatlas.ai/funds/mgv-capital-group) — Series A
- Upload Ventures — Series A