![]() AtoB is a member of the World Economic Forum’s Global Innovators Community and is on Forbes’ Next Billion-Dollar Startup 2022 list. AtoB’s groundbreaking fintech payments platform provides drivers and fleet operators with easy-to-use financial products such as no-fee 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. and beyond.”ĪtoB was founded in 2020 with the mission to transform the fleet industry’s financial management infrastructure. “AtoB has grown their operations in a smart and intentional way, positioning them to support fleet businesses in the U.S. “We partnered with AtoB because it’s clear fleet owners and operators have been underserved for a long time, and AtoB’s leadership is passionate about fixing that pain point,” said Ross Fubini of XYZ Venture Capital. It’s difficult to innovate on complex, established systems, and the rewards for the startups that succeed are massive,” said Roy Bahat, head of Bloomberg Beta. ![]() As one of the most common occupations in the U.S., truckers deserve better. ![]() “In industry after industry, enormous companies still provide customers with awful service-and AtoB is out to change that for truckers. “Vignan Velivela, Harshita Arora, Tushar Misra and team think deeply about serving truck drivers and fleet owners well and in doing so they are building an enduring fintech company that empowers the transportation workforce and businesses that rely on them.” Creating a modern logistics and payment stack that is unique to the transportation industry is an important problem to solve in improving the global supply chain,” said Hemant Taneja, Managing Partner at General Catalyst. “AtoB is operating in a deceivingly large market in a space that needs innovation. The majority of these businesses are small: 92% of all trucking businesses operate 6 or fewer trucks 97% operate fewer than 20 trucks.ĪtoB’s unique fuel analytics system flags fuel theft and opportunities to increase fuel efficiency, two of the biggest challenges facing the industry, while also helping fleets reduce their emissions and support transition to cleaner fuels and electric vehicles. Truck drivers and fleet owners rely on under-regulated and exploitative fuel cards, which come with limited networks and prohibitively expensive fees lack access to low-cost capital for maintenance and are paid through outdated legacy systems, such as hard copy checks that often cannot be deposited while drivers are on the road. Our Series B will support new product development, working capital for small businesses, and international expansion, so we can bring our services to more operators and drivers,” said CEO and co-founder Vignan Velivela.Īmerica’s fleet financial system is broken. ![]() For too long they’ve been left behind, without the basic financial services that most businesses take for granted. “AtoB is working to improve the lives of the operators and drivers who power the global economy. AtoB’s individual and institutional backers include industry stalwarts Eric Schmidt, former Google CEO and Alphabet executive chairman Marc Benioff’s TIME Ventures AngelList Founder Naval Ravikant DoorDash founders Tony Xu and Stanley Tang Coinbase founder Brian Armstrong Instacart CEO Fidji Simo Jack and Max Altman of Altman Capital and Long Journey Ventures.ĪtoB’s payments platform provides a suite of groundbreaking products for the fleet community for the first time, including no-fee fleet cards instant direct-deposit payroll and access to bank accounts and savings tools. Prior rounds were led by General Catalyst and Roy Bahat of Bloomberg Beta. This latest investment brings AtoB’s total debt and equity raise to $230 million.ĪtoB’s Series B was led by Elad Gil and General Catalyst with participation from existing investors Collaborative Fund, Contrary Capital, XYZ Venture Capital, and Leadout Capital. ![]() The funding is a combination of equity to scale its services over the next 12 months, and debt and CAC financing to provide working capital to small fleet businesses. AtoB Has Raised $230 Million To-Date to Fix Fleet Transportation’s Broken Financial System, Address Supply Chain Failures, and Bring Financial Services to Drivers and Operators For First TimeĪ toB, the first fintech payments platform to modernize the $790 billion trucking industry’s broken financial system, today announced it has raised $155 million in Series B funding. ![]()
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