Pluggy, a Brazilian open finance infrastructure company, has raised a US$ 3.5 million Series A round to accelerate growth and expand its connectivity platform for business management systems. The investment was led by DGF, with participation from Y Combinator and Brazil Venture Capital, two investors that also backed the company's 2021 seed round. The new capital follows a period of steady commercial expansion and reinforces Pluggy's position in B2B financial data interoperability.
Funding Details and Investor Backing
The Series A round totals US$ 3.5 million and marks an important step in Pluggy's capital structure after a US$ 2.5 million seed financing in 2021. DGF, a Brazilian asset manager focused on B2B software, led the operation, while Y Combinator and Brazil Venture Capital returned as existing investors. The participation of previous backers signals continued confidence in the company's business model and execution capacity.
Connecting Business Systems to Banks
Pluggy operates at the intersection of open finance and enterprise software, linking ERPs, accounting platforms and BPO systems to banking institutions through application programming interfaces. This integration allows small and medium-sized enterprises to access business data and financial movements without leaving their management software. The result is a unified administrative environment that reduces manual processes and improves financial visibility.
The company currently serves around 600 direct clients, including Conta Simples, Linx and Domino, a Thomson Reuters company. Its infrastructure already connects nearly half a million CNPJs, reflecting a broad base of corporate users across different sectors. These relationships demonstrate the platform's relevance for organizations that need consolidated financial data from multiple banking partners.
Financial Momentum and Use of Proceeds
Pluggy has been at breakeven since 2024 and reports positive EBITDA while posting year-on-year growth that has doubled its size. The company initially planned to close 2026 with R$ 25 million in annual recurring revenue, but it has already surpassed that mark and now expects to reach around R$ 40 million by the end of the year. This trajectory allows the new funding to be directed toward acceleration rather than operational stabilization.
Chief Executive Officer Rogério Corrêa said the capital will support faster client acquisition and deeper expansion within the existing customer base. The strategy includes strengthening product development and go-to-market efforts, with particular attention to increasing the average ticket through additional solutions. He founded the company alongside Chief Growth Officer Bruno Loiola, who also emphasized the integrated delivery of new capabilities.
Building a Channel for Bank Products
Beyond its core connectivity service, Pluggy intends to turn its software-as-a-service infrastructure into a distribution channel that allows banks to offer financial products such as credit and investments. This approach would embed banking services directly into the systems companies already use for day-to-day management. According to co-founder Bruno Loiola, these offerings are designed to be delivered within the same platform environment.
Investor Perspective and DGF Strategy
DGF partner José Orem attributed the investment to Pluggy's strong execution record and efficient use of capital, noting that the company has delivered on its promises in recent years. He added that Pluggy has become a reference in interoperability for other fintechs, including some companies within DGF's own portfolio. The round was made through DGF's eighth fund, which raised R$ 200 million and has completed seven investments since last year.
With a profitable operating base, growing client count and an expanding product vision, Pluggy enters its next phase with clear momentum. The Series A funding is positioned to strengthen both customer acquisition and deeper monetization while preparing the platform to serve as a broader financial services channel. As open finance matures in Brazil, Pluggy's role in connecting business systems and banks is likely to become increasingly strategic.
Source: Pipelinevalor.globo.com