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Plerk, a Mexican startup that offers companies a set of benefits for their workers, closed a Series A led by Upload Ventures, SoftBank’s fund for early-stage ventures in Latin America. Also participating in the round were Magma Partners, 500 Global, and MGV Capital—which had already invested in Plerk in its early stages—and the founders of the startups Rappi, Frubana, and Truora, as angel investors.
According to the Brazilian newspaper Valor Econômico, the managing partner of Upload Ventures, Rodrigo Baer, said they had been in talks with Plerk for months. “We see great potential in this business and the entrepreneurs,” he said. He added that even though Plerk is not yet profitable, “it has super healthy economics.”
Plerk rose from the ashes of Isibit, a corporate travel startup and idea that its founders decided to leave behind while in the Y Combinator program. They thought of a new concept while keeping the B2B model: a platform of benefits that companies can flexibly give to their workers, from gym passes to telemedicine to grocery vouchers.
Its founders are Miguel Medina, Ángel Arias (both ex-Rappi) and José Antonio Martínez. Medina told Valor Econômico that the idea arose intending to improve the lives of company employees in Mexico, where benefits have never been a priority beyond food vouchers.
According to Plerk’s figures, including Mexico, Colombia, and Chile – the markets where it operates – the company already serves 300 businesses and 40 thousand employees.
You also may be interested in: “The Key Is Not to Fall in Love with the Product, but with the Problem to Be Solved” – Mike Medina, Plerk