# Plug

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

- Industry: Software
- Headquarters: Rio De Janeiro, Brazil
- Website: www.plugpagamentos.com
- Total disclosed funding: $2.7M
- Latest round: Seed (Nov 17, 2021)
- Investors on record: 4

## About

Plug, Inc. is a financial technology company focused on providing intelligent payment solutions that enable businesses to enhance transaction efficiency and optimize payment processes across various sectors.Plug, Inc. was founded in 2020 in Rio de Janeiro, Brazil. The company specializes in intelligent payment infrastructure, offering a modular solution that allows businesses to customize their payment systems. The founders, Alex Vilhena, Marcel Nicolay, and Thiago Garuti, have a history of developing innovative solutions in the fintech space. Notably, Plug, Inc. raised USD 2.7 million in Seed funding on November 17, 2021, led by Costanoa Ventures, with participation from Norte Ventures, Verve Capital, and Y Combinator. This funding round marks the company's inaugural funding effort, bringing the total amount raised to USD 2.7 million.Plug, Inc. is primarily known for its Intelligent Payment Infrastructure, which provides a modular solution for businesses to customize their payment systems. The core offerings include payment orchestration services, fraud prevention tools, and a comprehensive suite of data analytics. These services empower businesses to establish transaction rules, optimize payment routing, and efficiently recover denied transactions. Plug, Inc. caters to a diverse clientele, including fintechs, e-commerce platforms, and marketplaces, across various geographic markets such as Brazil and other Latin American countries.The revenue model for Plug, Inc. is anchored in its payment processing and orchestration services, designed for businesses requiring online payment solutions. Transactions typically occur through a B2B framework, where companies integrate Plug, Inc.’s offerings into their platforms to effectively manage payment flows. Clients are charged for access to features like fraud detection, tokenization, and transaction analytics. The pricing structure is based on service subscriptions or transaction fees, reflecting the different levels of service and support provided. By facilitating smooth payment processes and increasing transaction success rates, Plug, Inc. aims to enhance revenue for its clients while reinforcing its position in the competitive payment services landscape.Plug, Inc. plans to leverage its recent funding of USD 2.7 million to develop new product offerings and expand into additional markets. The company is focusing on enhancing its payment solutions and aims to roll out new features by the end of 2023. Additionally, Plug, Inc. is targeting expansion into other Latin American countries to reach a broader customer base by 2024. The recent seed funding will support these strategic initiatives, including product development and market entry efforts.

## Funding rounds

- Seed, Nov 17, 2021, $2.7M — Y Combinator, Costanoa Ventures, Norte Ventures, Verve Capital

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Costanoa Ventures (https://capitalatlas.ai/funds/costanoa-ventures) — Seed
- Norte Ventures (https://capitalatlas.ai/funds/norte-ventures) — Seed
- Verve Capital (https://capitalatlas.ai/funds/verve-capital) — Seed