Plug Pagamentos Raises $2.7 Million Seed Round

YCombinator’s First LatAm Payments Infrastructure Startup, Plug Pagamentos, announced today a $2.7 Million Seed Round of funding led by Costanoa Ventures with participation from QED (Fontes), Norte Ventures, Latitud, Verve Capital and other strategic angel investors from Europe and Brazil. 

Plug provides a streamlined payments API for multiple providers through one integration that allows merchants to add, change, and work with multiple payments-related services like card processing, local payment methods, fraud protection, and reconciliation tools. This single integration automatically retries and routes transactions to ensure sales aren’t missed and payment flows are optimized to reduce costs, which improves buying and selling experiences.

Founded in April 2020 in Brazil, Plug is LatAm’s first payment’s orchestration platform and the first LatAm payments company to be accelerated by Y-Combinator. The founding team comes from companies like Braintree, Zoop, Stone, and Vindi; and is composed of payment experts Alex Vilhena – CEO, Thiago Garuti – COO and Marcel Nicolay – CTO.

Plug already has clients integrating across Latin America and hopes to begin dedicating more resources to regional expansion in 2022.