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US transportation paytech AtoB raises $130m in equity and debt funding

  • Funding Details: AtoB, a payments solutions provider for the transportation industry, raised $130 million in Series C funding, a mix of equity and debt.
  • Investors: The round was co-led by General Catalyst and Bloomberg Beta, with backing from Mastercard and industry players in trucking and logistics.
  • Company Overview: Founded in 2019 and based in San Francisco, AtoB offers a payments platform for drivers and fleet operators, featuring instant payroll, access to bank accounts, fraud prevention, expense management, and no-fee fleet cards.
  • Growth: AtoB reported a 500% growth in revenue and volume, driven by partnerships like its collaboration with Uber Freight on a co-branded fuel card.
  • Use of Funds: The funding will support product and team expansion.
  • CEO Statement: CEO Vignan Velivela emphasized the importance of the funding in helping truckers and small businesses with tools for transparency and efficiency.
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Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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