Plug offers an API-based payments orchestration layer that connects merchants to an array of payment processors and multiple payment options to improve authorization rates and reduce costs in Brazil. The company says Brazil is a hostile payments market—about a quarter of transactions fail and merchants pay multiples of processing fees seen in other markets—and aims to make payments less onerous to unlock commerce. Plug launched its product in April and reports its total payment volume (TPV) and client base are doubling month over month. At demo day it had processed over $230,000 to date. Its pricing started with a roughly 1% take for initial customers, with a target median of 0.5% and potential rates as low as 0.2% for larger customers. Plug participated in Y Combinator’s Summer 2021 cohort.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Nov 2021