Fuel Me, a rapidly growing fuel procurement and management platform, announced the successful close of its $18 million Series A financing co-led by Pritzker Group Venture Capital and Tribeca Venture Partners. Other new investors include Bessemer Venture Partners, Interplay Venture Capital, FJ Labs, Hyde Park Angels, Bridge Ventures, Correlation Ventures, Forefront Venture Partners, and Gaingels. Tribeca Venture Partners co-founder and partner Brian Hirsch has joined the Board of Fuel Me in connection with the funding round.
Since its founding in September 2020, Fuel Me has seen rapid growth, showcasing a fivefold increase in performance metrics year over year. The company has completed over 20,000 fuel deliveries and now serves an expanding roster of Fortune 500 clients. Utilizing strategic integrations, Fuel Me enhanced national fuel pricing and tax compliance automation, which was instrumental in refining procurement processes for large-scale operations.
KEY QUOTES:
“This funding marks a significant milestone, enabling Fuel Me to accelerate the development of advanced technology while continuing to deliver unparalleled service to our customers. With the support of our investors, we are poised to rapidly expand our market share as we redefine fuel procurement to meet the evolving needs of both the U.S. and global energy markets.”
– Carlo Passacantando, Co-founder and CEO
“Pritzker Group Venture Capital sees the potential of Fuel Me to create a category-leading marketplace for fuel distribution. This category is massive in size, and Fuel Me has a significant first-mover advantage as the only national digital marketplace in the space.”
– Chris Girgenti, Managing Partner of Pritzker Group Venture Capital
“The Fuel Me platform leads the next evolution in energy distribution. By pioneering advanced solutions that merge AI-driven optimization with predictive ordering based on real-time weather monitoring, we ensure automated, efficient fuel deliveries tailored to enterprise needs. Our approach transcends traditional fueling methods, positioning us as a strategic partner in optimizing industry operations.”
– Boy Schook, Co-founder and COO
“We have a keen interest in companies that redefine marketplaces. Fuel Me has impressively disrupted a vast, antiquated industry with its groundbreaking platform. As the co-lead investor, we are immensely excited about Fuel Me’s potential to redefine how fuel is procured and managed, demonstrating a blend of innovation and practicality that’s rare in today’s market.'”
– Brian Hirsch, at Tribeca Venture Partners
