AtoB, a leading provider of modern payment solutions for the transportation industry, announced significant growth and strategic milestones, including $130 million in new equity and debt funding to further support product and team expansion. And this momentum reflects AtoB’s dedication to transforming the transportation sector through fintech solutions and strategic partnerships.
AtoB has raised $130 million in a combined Series C equity and debt funding round, led by General Catalyst and Bloomberg Beta along with participation from Mastercard and leading trucking and logistics industry players. And this funding will drive AtoB’s continued growth and innovation in supporting fleet owners, trucking companies, and truck drivers, a critical yet often underserved industry.
The combination of the rising fuel costs and tight profit margins undermines the financial stability of those working tirelessly to keep goods moving across the country. And by simplifying payment processes and providing 24×7 instant access to earnings through the AtoB Carrier Wallet – designed for managing fuel and non-fuel expenses – AtoB helps drivers optimize their finances, reduce fraud, and maintain the stability essential for success in a challenging industry.
Over the past year, AtoB has achieved remarkable growth with a 500% increase in revenue and volume with its partners. This growth has been driven by strategic partnerships, including their work with Uber Freight to offer a co-branded fuel card to their customers. And these partnerships enhance AtoB’s services by delivering effective solutions for on-road purchases, enabling carriers and drivers to manage fuel expenses, streamline logistics, and reduce costs on long hauls.
Working with companies like Mastercard and Uber Freight and several top-10 brokerages, freight factoring and energy companies enables AtoB to deliver valuable and reliable service to even more small and medium-sized customers. And by focusing on innovative payment solutions and strategic partnerships across the trucking ecosystem, AtoB is well-positioned for continued growth in supporting America’s trucking industry.
KEY QUOTE:
“As AtoB continues to grow and scale, we remain dedicated to transforming the trucking industry’s financial systems. Trucking is one of the largest occupations in the US, with small and medium-sized trucking businesses making up the vast majority of fleets today. These milestones will allow us to better support truckers and the small businesses they represent–the backbone of America’s economy – with tools that allow for transparency and efficiency.”
-AtoB CEO Vignan Velivela
