Pluggy raises US$3.5 million in Series A to expand its Open Finance platform

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

DGF leads Pluggy's Series A

The funding round was led by DGF, with new 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 above R$25 million, exceeding its initial projection of tripling revenue compared with the previous year. The fintech also expects to maintain this pace of growth in 2027.

From Open Finance data to embedded financial services

Pluggy operates as an ITP, or Payment Transaction Initiator, authorized by the Central Bank since June 2024. Through its infrastructure, the company orchestrates interoperability within the Open Finance ecosystem.

Today, Pluggy enables companies to access banking data and initiate payments directly within the ERP or financial management platform they already use. The company is now expanding this infrastructure to include additional collection, payment and embedded financial service 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 in reaching customers at the exact moment they make a decision, or the inability to provide an integrated experience within the software where clients manage their finances,” said Rogério Correa, CEO and co-founder of Pluggy. “Pluggy solves these three problems through a single integration.”

Pluggy focuses on expanding its financial product offering

According to Bruno Loiola, Chief Growth Officer and co-founder of Pluggy, the company will use the new capital to deepen its product offering within its existing ecosystem rather than simply expanding its reach.

“Our focus with this round is density. The capital will not go toward expanding coverage, but rather toward embedding increasingly sophisticated financial products into the Pluggy ecosystem,” Loiola said.

“We already have the connected management platforms. Now, we are bringing financial institutions closer to customers by distributing their offerings directly through the software companies already use every day.”

Pluggy currently has nearly half a million CNPJs connected 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 the investment, Pluggy joins the portfolio of DGF's eighth fund. The investment manager recently marked 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 includes seven companies in its portfolio.

João Orem, partner at DGF, said the firm was attracted by Pluggy's infrastructure model, customer value proposition, capital efficiency and demonstrated ability to scale.

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

He added that the company's capital efficiency and scalability were also characteristics DGF actively seeks in the businesses it invests in.