Piston, a fee platform designed for business fleets, has raised $15 million in Collection A funding as the corporate seems to be to broaden its cardless gasoline fee community throughout the U.S., in line with Piston.
FPV Ventures led the spherical, with present buyers Spark Capital and Pear VC additionally collaborating. The financing brings Piston’s complete funding to $22.5 million.
The corporate stated its fee quantity elevated eightfold over the previous yr, whereas its service provider community grew 40 instances. Piston now operates at greater than 2,000 gasoline stations throughout 48 states and stated its point-of-sale integrations are licensed and dwell on methods representing greater than 95% of U.S. service provider gasoline websites.
Piston’s expertise is aimed toward changing bodily gasoline playing cards with a system that authorizes transactions for particular person drivers and autos on the level of sale. The corporate says the strategy is meant to offer fleets extra instant visibility into gasoline spending whereas decreasing the fraud and administrative work related to bodily playing cards.
“Business gasoline nonetheless runs on fee expertise constructed for one more period,” stated Vikram Sekhon, Piston’s co-founder and CEO. “Fleet gasoline fraud is a bodily card downside, disguised as a detection problem.”
The corporate can be including AI instruments to the platform because it seems to be to offer fleets extra management over gasoline transactions and the info generated by them, in line with Piston.
The primary product, known as Piston Guard, evaluates every transaction for anomalies and might flag or block suspected fraudulent spending earlier than the transaction is accomplished, in line with the corporate. A second product, the Piston Analytics Agent, is designed to assist fleet operators analyze their spending knowledge and establish patterns with out having to manually kind by means of the knowledge.
The AI merchandise construct on Piston’s concentrate on real-time transaction controls, giving fleets instruments to establish doubtlessly fraudulent purchases in addition to analyze spending after transactions happen.
Piston was based by Sekhon and co-founder Shivam Shah, who beforehand operated trucking fleets. Sekhon beforehand advised BigRig that he operated between 120 and 250 vans and that gasoline was his fleet’s second-largest expense after payroll. He stated the fleet had handled fraud, unpredictable charges and the executive work concerned in reconciling gasoline transactions.
That have helped form Piston’s strategy to gasoline funds. In 2025, the corporate stated drivers used a smartphone and a dynamic QR code to authorize gasoline purchases, with transactions tied to particulars together with the car, time, location and gasoline sort.
Piston has significantly expanded since its earlier funding spherical. In June 2025, the corporate raised $7.5 million in complete funding and stated it served greater than 120 fleets throughout 800 gasoline stations, with greater than $20 million in annualized transaction quantity.
Piston will use the brand new funding to speed up the enlargement of its funds community, advance product improvement and add senior leaders throughout the corporate. It goals to ascertain protection throughout each U.S. area over the following 18 months. The corporate additionally plans to finally transfer past gasoline funds into broader logistics funds infrastructure. The corporate didn’t present further particulars about which areas of logistics funds it plans to focus on.
Why this issues:
Gas is a significant working expense for trucking fleets, making fee controls and fraud prevention vital components of fleet administration. Piston is positioning its cardless system as a substitute for conventional gasoline playing cards whereas increasing its community and including instruments that give fleets extra management over gasoline transactions and spending knowledge.
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