Car Iq Closes An Oversubscribed $15 Million Series B Round For Fleet Vehicle Payment Platform
08/11/21, 12:10 PM
Location
oaklandMoney raised
$15 million
Round Type
series b
Car IQ, the first payment solution developed specifically for fleet vehicles, today announced it has raised $15 million in Series B funding. The round was led by Forté Ventures. Other new investors Ally Ventures, BlackBerry Limited (NYSE: BB; TSX: BB), State Farm Ventures®, and TELUS Ventures joined existing investors Alpana Ventures, Avanta Ventures, Citi Ventures, Quest Venture Partners, and Scrum Ventures.
Company Info
Location
oakland, california, united states
Additional Info
Car IQ is the first payment solution developed for vehicles and fleets that enables vehicles to transact directly, securely and autonomously with merchants. Car IQ’s vehicle payment solution is aimed at driving ease of use and simplicity for customers. The payment solution replaces incumbent fleet card products and protects against fraud, while eliminating tedious back-office vehicle reconciliation for fleets. These payments deliver value by reducing fraud risk for both the fleet and participating merchants.
www.gocariq.com