Magma Partners invests in remote-first platform Plerk for flexible employee perks worldwide

Plerk, founded by ex-Rappi employees Miguel Medina and Angel Arias, and  Antonio Martínez ex-Banregio Labs, is a fintech/human resources platform that helps companies give their employees better benefits. The idea for Plerk originated as a virtual card to pay for flexible benefits and services. Companies can deposit a certain amount of funds for their employees who can then choose from over 5,000,000 vendors around the world to spend the money on.

The founders previously started Isibit, an all-in-one platform for business travel, and faced unfortunate timing for their business model during the onset of COVID-19. Although sales had started to pick up by the end of 2020 and they had been accepted into the YC Summer 2020 batch, they understood that the world was becoming remote-first. That’s why they decided to pivot and launch Plerk, a virtual card for companies to provide their employees with perks and benefits worldwide.

We’re excited to be able to support Plerk and the team on their mission to help improve the quality of life of employees.  

“Plerk goes beyond being your usual perks and benefits platform. With the new reality of remote work, being able to provide a work-life balance to distributed teams is vital to their success. We’re excited to help Plerk grow in Latin America to help transform the modern workplace,” said Nathan Lustig, Managing Partner at Magma Partners.

Currently, Plerk is present in 8 countries, including Colombia, Chile, and the US. We’re excited to see Plerk grow its team and expand throughout the region!