Piston raises $15M to replace fleet fuel cards
Piston is building cardless payments infrastructure for commercial fleets and fuel stations.
Fleet payments still rely heavily on physical fuel cards and legacy systems, despite the rest of payments infrastructure becoming increasingly software-driven.
What happened
Piston raised a $15 million Series A led by FPV Ventures, with Spark Capital and Pear VC participating. Its cardless payments platform connects commercial fleets directly with fuel stations and is deployed at more than 2,000 locations across 48 US states.
Why it matters
Removing physical cards can reduce fraud, simplify reconciliation and give fleet operators more direct control over transactions.
The bigger picture
Specialised payments infrastructure is continuing to move into vertical industries. Piston’s longer-term opportunity is not just fuel payments, but a broader software and payments layer for logistics commerce.