About Car IQ
Car IQ focuses on improving fleet operations by providing a payments platform designed for managing all fleet-related expenses. The platform uses real-time vehicle data to authenticate transactions, which allows businesses to make payments for fuel, EV charging, and other fleet costs without relying on traditional credit cards. This system not only simplifies the payment process but also reduces administrative tasks and enhances fraud monitoring. Unlike other payment solutions, Car IQ specifically targets the fleet management sector, catering to both small and large businesses. The goal is to streamline payment processes and improve operational efficiency for companies that manage vehicle fleets.
San Francisco, CaliforniaHeadquarters
2016Year Founded
$35.5MTotal Funding
SERIES_BCompany Stage
Automotive & Transportation, FintechIndustries
51-200Employees
Risks
Competition from Sheeva.AI's tokenization platform may threaten Car IQ's market share.
Reliance on partnerships like Lewis & Clark Bank could pose financial risks.
Visa may prioritize other in-vehicle payment providers, affecting Car IQ's growth.
Differentiation
Car IQ eliminates credit cards by connecting vehicles directly to merchants for payments.
The platform uses telematics and vehicle data for real-time transaction authentication.
Car IQ consolidates transactions into a single ledger, simplifying fleet expense management.
Upsides
Partnerships with Exxon and Mobil expand Car IQ's fuel payment network.
Collaboration with Visa enhances Car IQ's global reach and payment capabilities.
Growing EV market offers opportunities for Car IQ in EV charging payments.
Funding
Total raised$35.50 M
Latest valuation$75.00 M
StageSERIES_B
SERIES A
5/31/2019$5
$25.00 MN/A
$1.25 M