HomeUSARynse Raises $5M in Seed Funding

Rynse Raises $5M in Seed Funding

-

Rynse, a Philadelphia, PA-based fleet management software provider, raised $5M in Seed funding.

The round was Autotech Ventures, with participation from returning investors Founder Collective and Correlation Ventures, along with new investor Connexa Capital.

The company intends to use the funds to accelerate strategic expansion and support key initiatives such as product development, marketing efforts, and operational scaling to meet growing demand.

Led by CEO Roland Lau, Rynse offers fleet management software for government and enterprise organizations to handle all their vehicle services. It provides compliance tracking, expense management, and payment solutions to create a system of record for vehicles. Its platform enables a network of vendors to choose from, real-time data transparency, and tailored billing options for all fleet related services.

With its software and fleet-related services payment card, Rynse gives fleet managers and billing administrators control and vendor and service options. The card offers fleet operators flexible spending controls and access to a nationwide network of car washes, preventative maintenance providers and fueling/charging locations, removing the constraints of relying on single vendors. Complementing the payment card, Rynse’s advanced fleet management software automatically processes, digitizes and consolidates every transaction. Fleets benefit from unified, timely invoices for all vendors, with transaction data seamlessly synced with Rynse’s system. The data is also formatted for easy uploading into existing fleet management systems.

Rynse, which started exclusively serving fleets in 2024, has secured contracts with government agencies across 10 states, including the State of Utah; Anne Arundel County, Maryland; Baltimore County, Maryland; Broward County, Florida; City of Cincinnati, City of Pasadena; City of Pittsburgh; City of Sacramento and Tennessee Department of Environment. In 2025, the company will expand into the private sector.

FinSMEs

29/01/2025

THE DAILY NEWSLETTER - SIGNUP