AtoB, a San Francisco, CA-based provider of modern payment solutions for the transportation industry, raised $130M in funding.
AtoB raised the amount in a combined Series C equity and debt funding round, led by General Catalyst and Bloomberg Beta along with participation from Mastercard and other industry players.
The company intends to use the funds to further support product and team expansion.
Founded in 2019 and led by CEO Vignan Velivela, AtoB provides a fintech payments platform that provides drivers and fleet operators with financial products such as no hidden fees fleet cards, instant direct-deposit payroll, and access to bank accounts and savings tools in order to provide ease on the road and network efficiencies.
In the past year, AtoB has achieved growth with a 500% increase in revenue and volume with its partners. This growth has been driven by strategic partnerships, including their work with Uber Freight to offer a co-branded fuel card to their customers. These partnerships enhance AtoB’s services by delivering effective solutions for on-road purchases, enabling carriers and drivers to manage fuel expenses, streamline logistics, and reduce costs on long hauls.
Partnering with companies like Mastercard and Uber Freight and several top-10 brokerages, freight factoring and energy companies enables AtoB to deliver service to even more small and medium-sized customers.
FinSMEs
19/09/2024