Pluggy closes $ US$3.5 million Series A round and bets on new financial services

Pluggy, an Open Finance infrastructure fintech, closed a $ US$3.5 million Series A round to develop new products and accelerate the growth of its platform. The company also expects to more than triple its revenue compared with the previous year.

DGF leads Pluggy’s Series A round

The funding round was led by DGF, with additional investments from Y Combinator and Brazil Venture Capital.

With this transaction, Pluggy’s total funding since its founding in 2020 reaches approximately US$6 million.

The investment comes as the company continues to expand its operations. Pluggy expects to close 2026 with revenue exceeding R$ $25 million, surpassing its initial projection of tripling revenue compared with the previous year. The fintech also expects to maintain this growth rate through 2027.

From Open Finance data to embedded financial services

Pluggy operates as a Payment Transaction Initiator (ITP), authorized by the Central Bank since June 2024. Through its infrastructure, the company enables interoperability within the Open Finance ecosystem.

Pluggy currently enables companies to access banking data and initiate payments directly from the ERP systems or financial management platforms they already use.

The company now aims to expand this infrastructure by adding new collection, payment, and embedded financial services solutions through a single integration.

“Historically, financial institutions have faced high costs and significant friction when distributing their services to the business segment, whether due to a lack of data to make the right offer, difficulties reaching customers at the exact moment they make a decision, or the inability to provide an integrated experience within the software customers use to manage their finances,” explained Rogério Correa, Pluggy’s CEO and co-founder. “Pluggy solves all three of these problems through a single integration.”

Pluggy bets on expanding its financial product offering

According to Bruno Loiola, Pluggy’s Chief Growth Officer and co-founder, the company will use the new capital to deepen its product offering within the ecosystem it has already built, rather than focus solely on expanding its reach.

“Our focus with this round is density. The capital will not go toward expanding coverage, but toward adding increasingly sophisticated financial products to the Pluggy ecosystem,” Loiola said. “We already have connected management platforms. Now we’re bringing financial institutions closer to customers by distributing their offerings directly through the software companies use every day.”

Pluggy currently has nearly half a million connected CNPJs and around 500 direct clients, reaching more than 10 million companies.

Its customer base includes major financial management and accounting platforms, as well as BPOs.

Pluggy joins DGF’s eighth fund portfolio

With this investment, Pluggy joins the portfolio of DGF’s eighth fund.

The investment firm recently celebrated 25 years in the market, while its latest vehicle, launched in the first quarter of 2025, has raised more than R$ $200 million and currently has seven companies in its portfolio.

João Orem, a partner at DGF, said the firm was drawn to Pluggy’s infrastructure model, its value proposition for customers, its capital efficiency, and its proven ability to scale.

“What convinced us was the agnostic infrastructure and the significant value customers already see,” Orem said. “While much of the market focuses on exclusive agreements, Pluggy has built a two-way channel where customers retain their freedom of choice and financial institutions gain a direct, highly efficient distribution channel.”

Orem added that the company’s capital efficiency and scalability were also qualities DGF actively seeks in the businesses it invests in.