Finance Industry Veteran Joins Company to Accelerate Revenue Growth as Plastiq Focuses on Helping Businesses Increase Cash Flow
SAN FRANCISCO—April 16, 2019 — Plastiq, the best way to use your credit card for improved cash flow, today announced that Sameer Gulati has joined the company’s leadership team as Chief Operating Officer. A veteran leader in the payments and financial technology industries, Sameer will oversee Plastiq’s revenue-generating functions as the company scales for continued growth.
As COO, Sameer will be responsible for managing Plastiq’s product, sales, business development and marketing functions. He brings more than 20 years of experience driving growth for companies in the financial technology and payments industries. Previously he served as COO for LendingClub, where he oversaw strategy, product, mergers and acquisitions, and business operations. During his tenure, the company grew annual loan originations to more than $10 billion. Prior to LendingClub, Sameer was a Partner at McKinsey & Co. where he served a wide variety of clients globally in digital payments and consumer and small business banking.
“Plastiq has a tremendous opportunity to serve small businesses, historically an underserved segment in the financial services industry, by addressing a major pain point—how to better manage cash flow. With more than 30 million SMBs in the US alone, the need and the opportunity is huge. Our solution is unique in that it unlocks existing credit sources, which makes it a simple, yet highly effective platform that drives growth for SMBs,” said Sameer Gulati. “At the same time, Plastiq helps expand card acceptance in the business-to-business payments space, benefiting the entire ecosystem—issuers, acquirers, networks, cardholders and businesses.”
“We’re thrilled to have Sameer join our executive leadership team. It’s a pivotal time for Plastiq as we’ve seen tremendous growth in our business. Sameer’s industry expertise will be invaluable as we scale to meet customer demand and continue to build out services for small businesses,” said Eliot Buchanan, Plastiq’s CEO and co-founder.
Plastiq recently received $27 million in a Series C round from Kleiner Perkins and DST Global. Overall funding now totals $72 million including investments from Accomplice, Khosla Ventures, and NextView Ventures. Earlier this year, Plastiq was named one of the “Best Places to Work.” Plastiq’s payments platform has become increasingly popular with business owners who rely on it to better manage cash flow, maximize credit card rewards, and take advantage of early payment discounts.
Get more cash flow when you pay your bills by credit card. For a simple 2.5% fee, Plastiq enables business owners and consumers to use a credit card for virtually any expense—from business supplies, to contractors, to taxes and rent—where cards are not usually accepted. Deploy your cash in ways that make the most sense for you, tap early-payment discounts, and earn credit card rewards when you use your American Express, Discover, Mastercard, Visa, or JCB on Plastiq. Join the more than one million clients who have processed billions in payments via Plastiq. Learn more at plastiq.com.