SAN FRANCISCO—Plastiq has raised $75 million in venture capital for its bill paying solution, which is increasingly attracting small business.
To use Plastiq, users enter their credit card information on Plastiq’s platform. In return, Plastiq charges a 2.5% fee and pays consumers’ bills.
While Plastiq was started with consumers in mind, small businesses have now accounted for 90% of the revenue, Tech Crunch reported.
The new financing round will invest in building out features to give small businesses faster services around payments and processing, Tech Crunch said.
The Series D fundraising round was led by B Capital Group and brings the company’s total known venture capital raise to more than $140 million.