← Embedded Finance Index 2026

Plastiq

“Can a credit-card-based vendor-payment bridge become the embedded financial OS for SMB accounts payable and working capital?”

Founded2012
HQSan Francisco, California, United States
FoundersEliot Buchanan
Total raised$472.2M
Latest roundAcquired by Priority Technology Holdings
IndustryFintech / SMB banking
The story

Founded in 2012, Plastiq pioneered credit-card-based vendor payments for SMBs — allowing businesses to pay suppliers by card even when vendors don't accept cards. After raising $472M+ and attempting a SPAC merger in 2022, Plastiq was acquired by Priority Technology Holdings and now operates as 'Plastiq, Powered by Priority.' The company expanded from pure bill-pay into embedded finance through Plastiq Connect APIs (enabling platforms to embed payment and working capital features) and added short-term financing for SMBs, positioning itself as a B2B payments and working capital platform rather than a simple payment bridge.

Last 12 months
2026-02
Product timeline
2012
Plastiq founded in San Francisco as a B2B payments platform enabling SMBs to pay vendors by credit card.· pivot
2020
Raised $75M Series D led by B Capital Group, bringing total funding to over $140M.· banking
2022
Launched Plastiq Short-Term Financing, providing SMBs instant access to working capital within the payment flow.· lending
2022
Announced SPAC merger with Colonnade Acquisition Corp. II (NYSE: CLAA) valuing the combined company at ~$4B enterprise value.· ipo
2022
Upgraded Plastiq Connect to offer B2B embedded finance APIs enabling platforms to embed payment and working capital capabilities.· pivot
2026
Operating as Plastiq, Powered by Priority under Priority Technology Holdings, Inc., the 4th largest non-bank payments business in the US.· acquisition
The stack
5 layers disclosed in Plastiq’s embedded-finance stack
Payments / PSP
Priority Technology Holdings (self-operated)
Money movement
in the full report
Banking / BaaS
in the full report
Lending
in the full report
Accounting
in the full report
Accounting gap: minor
5 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.