Plastiq provides a way for SMBs and consumers to pay their bills and make sure they have reliable cash flow. For example, restaurants sometimes have a drop in revenue due to seasonality or unforeseen circumstances and can use Plastiq to pay suppliers using a credit card.

Challenges for the business have arisen, with some limits being placed on the types of payments that can be made via the service on particular cards which could affect the usefulness and appeal of the service. There’s also competition from companies such as Fundbox and Brex to consider. However, Plastiq continues to move towards catering for SMBs which according to founder Elliot Buchanan, now provide 90% of Plastiq’s revenue.