Pluggy raises $3.5M Series A

Open finance fintech Pluggy secured $3.5M in Series A funding led by DGF, with support from Y Combinator and Brazil Venture Capital. The financing brings Pluggy's total funding to approximately $6M. Established in 2020, Pluggy offers infrastructure enabling companies to access banking data, initiate payments, and deliver financial services through their existing management platforms.

Since June 2024, Pluggy has functioned as a payment transaction authorizer, granted by Brazil’s Central Bank. The company will allocate the new funds towards developing payment, collection, and embedded finance products, as well as expanding integrations with financial institutions and management platforms. Pluggy achieved profitability in 2024 and has maintained profitability since.

The company anticipates surpassing $4.6M in revenue by the end of 2026. Pluggy connects with nearly 500,000 registered businesses and serves around 500 direct clients, whose platforms encompass over 10 million enterprises.