Plerk
AcquiredYC S20Guadalajara, MX · Founded 2019 · 28 employees · 12 known investors
Plerk provides virtual benefit cards that let companies allocate budgets for employee perks, allowing workers to choose from merchant options while maintaining centralized billing and spending controls across distributed teams.
Also known as isibit · Plerk.io
Founders & leadership· Y Combinator alumni (S20)
Plerk was founded in 2019 by Miguel Medina, Angel Arias, and Antonio Martinez Quintero.
Investors · 12
Also in the syndicate · 5
Reported raises · per SEC filings
Form D private placements$12M disclosed across 1 of 2 rounds · 2021–2022
▶$12MraisedSep 2022 · 34 investors · OtherRule 506(b)
- Angel AriasExecutive Officer, Director, Promoter
- Miguel MedinaExecutive Officer, Director, Promoter
- Antonio MartinezDirector, Promoter
- Offering amount
- $12M
- Amount sold
- $12M
- Proceeds to insiders
- $1000K
- First sale
- Aug 2022
- Incorporated
- Limited Liability Company, Delaware, 2022
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Company profile
researched Aug 2026Plerk is a Mexican fintech and HR technology company that provides a virtual card companies use to fund flexible benefits and perks for local and remote employees. Employers define a budget, select perk programs at a general or granular level, deposit funds, and let employees decide which merchant to spend at; the company retains control of the program and receives a single consolidated bill. Benefit categories offered include telemedicine, wellness, education, entertainment and fitness, with fitness delivered through a partnership with Gympass.
The company was founded in 2019 and is based in Guadalajara, Mexico. It participated in Y Combinator's Summer 2020 batch and is categorized as fintech, SaaS and B2B. Plerk launched its perks product in January 2021 and later described a card design that, in compliance with Mexico's federal labor law reform on remote-work expenses such as internet and electricity, allowed a purchase to be split into two payments: one part charged to the Plerk card and the remainder to the employee's personal card. Y Combinator lists a team size of 28; at the time of the 2022 Series A the company reported 150 collaborators, and a co-founder bio describes a 50-plus person engineering team inside a 152-person company.
Founding story
The founding team — Antonio Martínez, previously of Banregio Labs, and Miguel Medina and Ángel Arias, both among Rappi's first hires in Mexico in 2016 — originally built Isibit, an all-in-one business travel platform for employees. Isibit was accepted into Y Combinator's Summer 2020 batch, but the COVID-19 pandemic undermined the business travel model. Sales had begun recovering by late 2020, yet the founders concluded that work was becoming remote-first and pivoted, keeping their original goal of improving employee quality of life and launching Plerk as a virtual card for worldwide perks and benefits.
Business model
B2B: employers contract Plerk to administer flexible benefit budgets for their workforces, with the company controlling program design and receiving a single consolidated bill while employees choose where to spend via a virtual card.
Traction
By the July 2021 pre-seed announcement the platform was present in eight countries including the United States, with most revenue from Colombia and Chile and a team of 20. By the August 2022 Series A, Plerk reported more than 40,000 users acquired over the previous year through more than 350 companies in Mexico, Colombia and Chile, with 150 collaborators. Y Combinator lists team size at 28.
Latest developments
In August 2022 Plerk closed a $12M Series A with participation from Upload Ventures, Magma Partners, 500 Startups and MGV Capital. In February 2023 Mexican press reported that Minu and Plerk were merging to strengthen the employee benefits market, and Y Combinator lists Plerk as acquired by Minu.mx. Co-founders have since moved on, with Miguel Medina joining Latitud and Antonio Martínez Quintero founding the product studio Iteris.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Positioned as an employee benefits and perks provider for Latin America, with stated ambitions to become the region's leading benefits provider; ultimately combined with Mexican benefits company Minu.
Employer-set budgets combined with employee choice across a very large merchant network (reported as over 5,000,000 vendors worldwide), centralized control and single billing, and a split-payment capability described as the first in Mexico allowing a purchase to be paid partly with the Plerk card and partly with an employee's personal card in line with remote-work expense rules.
Technology
A regulated financial perks and benefits platform built around virtual card issuance, budget allocation and merchant-level spending controls.
Go-to-market
Sells to employers, including distributed and remote-first teams; expanded through hiring in Chile and Colombia after the pre-seed round and grew via company accounts that onboard their employees.
Companies with local, remote and distributed employees in Latin America and beyond, including HR and benefits teams; end users are those companies' employees.
Geography
Headquartered in Guadalajara, Mexico; operations reported across eight countries including the United States, with customers and revenue concentrated in Mexico, Colombia and Chile.
History
Founded in 2019 as a business travel product (Isibit), selected for Y Combinator Summer 2020, pivoted to Plerk and launched in January 2021. A $1M pre-seed round was announced in July 2021, followed by a $12M Series A announced in August 2022. In February 2023 press reported that Mexican startups Minu and Plerk were merging, and Y Combinator lists Plerk as acquired by Minu.mx.
Compiled by commissioned research from 5 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 6
launches, deals, and filingsPress reported that Mexican startups Minu and Plerk were merging to strengthen the employee benefits market; Y Combinator lists Plerk's status as acquired by Minu.mx.
Round with participation from Upload Ventures, Magma Partners, 500 Startups and MGV Capital, intended to fund growth in Mexico and the wider region.
$12M source ↗
Plerk's benefits membership includes fitness benefits delivered through a partnership with Brazilian unicorn Gympass.
Pre-seed funding from Y Combinator, Magma Partners, 500 Startups, Peak Capital, Horseplay.ventures and MGV Capital Group, with angel participation from Podium co-founders Eric Rea and Dennis Steele, Rappi's Andres Bilbao and Truora's Daniel Bilbao. Reported as Peak Capital's first investment outside the US and Horseplay Ventures' first in Latin America.
$1M source ↗
After the pre-seed round, Plerk said it would expand its 20-person team by hiring first in Chile and Colombia and grow its product toward international financial services.
Following the COVID-19 disruption to their business travel product Isibit, the founders pivoted and launched Plerk, a virtual card companies use to give employees perks and benefits worldwide.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 5
primary sources listed
- Plerk: Acquired by Minu.mx - Fintech solutions for employees, starting with… | Y Combinatorycombinator.com · web
5 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Plerk do?
- Mexican fintech offering a virtual card that lets companies fund flexible perks and benefits for local and remote employees.
- Who founded Plerk?
- Plerk was founded by Miguel Medina, Angel Arias, Antonio Martinez Quintero in 2019.
- Who are Plerk's investors?
- Plerk's investors include MGV Capital, Startups, Y Combinator, 500 Global, First Check Ventures, Magma Partners, Upload Ventures.
- How much funding has Plerk raised?
- Plerk has disclosed $12M raised across 1 of its 2 known rounds.
- Where is Plerk headquartered?
- Plerk is headquartered in Guadalajara, MX.


