Failed 2023
Plastiq
Payments businesses with thin margins can't sustain high customer acquisition costs.
Founded → Closed
2012 → 2023
Funding Raised
$140M
Industry
Fintech/Payments
Country
USA
IdeaProof AI Failure Score
60/100
Market Fit Risk
55
Burn Rate Risk
70
Founder Risk
25
Full Analysis
Plastiq allowed paying bills with credit cards even when recipients didn't accept cards. Margins were razor-thin after processing costs, and credit risk mounted. Filed for Chapter 11 in 2023.
Could This Failure Have Been Prevented?
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