Piston, a cardless payments platform connecting industrial fleets with gasoline stations, has raised $15 million in a Collection A funding spherical led by FPV Ventures.

Present investors Spark Capital and Pear VC additionally participated, bringing the startup’s whole funding to $22.5 million.

Piston stated it can use the brand new capital to develop its funds community throughout the US, develop its merchandise and add senior leaders to the enterprise.

The startup goals to ascertain protection throughout each US area inside 18 months and plans to develop past gasoline into wider logistics funds infrastructure.

Based by former fleet operators Vikram Sekhon and Shivam Shah, Piston has developed a funds community that replaces bodily gasoline playing cards with cell authorisation know-how.

Its system hyperlinks a gasoline buy to a driver and car relatively than a bodily card. Piston’s platform additionally checks data together with driver identification, car particulars, location and fleet insurance policies earlier than authorising gasoline.

The startup stated this offers fleet operators better management and visibility over gasoline spending whereas lowering their reliance on bodily playing cards.

“Fleet gasoline fraud is a bodily card drawback, disguised as a detection challenge. We eliminated the cardboard and constructed a community that authorizes each buy for a particular driver and car on the level of sale,” Sekhon, Piston’s co-founder and CEO, stated.

Its cost quantity had elevated eightfold year-on-year, whereas its service provider community had expanded 40-fold over the previous yr. Buyer retention stood at 98%, in keeping with the startup.

The platform is now deployed at greater than 2,000 stations throughout 48 US states. Its point-of-sale integrations cowl greater than 95% of US service provider gasoline websites.

Fleet operators utilizing the platform can monitor gasoline spending in actual time and hyperlink transactions to particular person drivers and autos. Based on Piston, gasoline retailers can achieve entry to industrial fleet demand whereas benefiting from decrease transaction prices.

It is usually growing AI instruments aimed toward fraud detection and spending evaluation.

Piston Guard opinions transactions utilizing details about drivers, autos, areas and spending behaviour to establish uncommon exercise. Piston describes it as an AI agent that opinions transactions and flags anomalies for fleet operators.

Its Analytics Agent permits fleet operators to ask questions on transactions and spending in pure language, evaluate durations and establish tendencies throughout drivers, autos and stations.

Piston additionally operates an engineering workplace in Kolkata, which homes the group constructing know-how for its US funds community.

Earlier than the Collection A, Piston had raised $7.5 million. This included a $6.1 million seed spherical led by Spark Capital and introduced in June 2025, with participation from Pear VC and BOND, following a $1.4 million pre-seed funding via the PearX accelerator.