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Plooto: Providing Thousands of Businesses with Seamless Payment Automation and Achieving Triple Digit Growth

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Plooto: Revolutionizing Payment Automation for Businesses

Plooto, a leading payment automation solution for small-to-midsize businesses, has been recognized for its remarkable growth and innovation in the payments technology sector. The company's commitment to delivering powerful and accessible payments technology has led to its inclusion in the prestigious Deloitte Technology Fast 50™ Canada and Deloitte Fast 500™ North America awards. Plooto's revenue has grown by an astounding 433% between 2019 and 2022, driven by a customer-centric approach, key leadership hires, and significant funding.

Simplifying Cash Flow Management

Cash flow management is a significant concern for small business owners, with nearly 48% of Canadian small businesses reporting it as their top concern. Plooto's all-in-one solution addresses this pain point by automating accounts payable and accounts receivable processes. By streamlining manual processing, approvals, and reconciliation, Plooto empowers finance professionals to regain control over cash flow and focus on growth opportunities.

Innovative Features and Capabilities

Plooto continues to enhance its platform with innovative features designed to simplify complex workflows. Plooto Capture allows businesses to import invoices via email or in-app upload, leveraging advanced character recognition technology for automatic processing, payment, and reconciliation in accounting software. The introduction of credit card acceptance enables faster payment processing and ensures cash flow continuity. Additionally, Plooto offers unlimited free transactions for companies processing high volumes of payments, saving both time and money.
Investing in Growth and Security
To support its rapid expansion and product development, Plooto secured a $24 million USD Series B funding round in late 2022. This investment facilitated the scaling of a highly experienced global team, including leaders from renowned companies such as PayPal, Xero, and Varo Bank. Plooto plans to invest further in go-to-market expansion, scaling operations, strategic partnerships, and talent acquisition to support thousands of additional businesses. In conclusion, Plooto's recognition in the Deloitte Technology Fast 50™ Canada and Deloitte Fast 500™ North America awards highlights its commitment to revolutionizing payment automation for businesses. With its user-friendly platform and continuous innovation, Plooto is empowering businesses to take control of their cash management and unlock their growth potential.

The Impact of Plooto's Payment Automation on New Businesses

Plooto's recognition by Deloitte for its impressive growth and innovative payment automation solutions sends a clear signal to new businesses about the future of financial management. The company's customer-centric approach, combined with a commitment to simplifying complex workflows, has the potential to revolutionize how new businesses manage their finances.

Streamlining Cash Flow Management

The fact that nearly half of Canadian small businesses cite cash flow management as their top concern underscores the importance of Plooto's all-in-one solution. By automating accounts payable and accounts receivable processes, Plooto allows businesses to regain control over their cash flow. This is a game-changer for new businesses, freeing up valuable time and resources that can be better spent on growth opportunities.
Embracing Innovation for Business Growth
Plooto's innovative features, such as Plooto Capture and credit card acceptance, further streamline financial processes, enabling faster payment processing and ensuring cash flow continuity. The company's commitment to continuous innovation is a model for new businesses looking to stay competitive in today's fast-paced digital landscape. In conclusion, Plooto's success story offers valuable lessons for new businesses. Embracing innovation, prioritizing customer needs, and investing in growth and security are key strategies for achieving business success.
Story First Published at: https://financialpost.com/pmn/business-wire-news-releases-pmn/plooto-delivers-seamless-payment-automation-to-thousands-of-businesses-ranked-on-the-deloitte-technology-fast-500-and-technology-fast-50-canada-for-triple-digit-growth
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