Fintech Startup Piston Raises $15M in Series A Funding

Piston, a Cupertino, CA-based provider of a cardless payments platform that connects commercial fleets and gas stations, has raised $15 million in a Series A funding round, led by FPV Ventures, bringing the total amount to $22.5 million.

The round also saw participation from Spark Capital and Pear VC.

The company plans to use the funding to expand its payments network across the U.S., advance product development and add senior leaders.

Funding Snapshot

About Piston

Founded in 2024, by Vikram Sekhon and Shivam Shah, Piston operates a cardless payments network connecting commercial fleets with gas stations, and convenience stores.

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Its mobile authorization technology is built directly into point of sale systems allowing fleet operators to manage fuel purchases without issuing physical card's. The platform provides real time visibility into fuel spending while helping merchants reduce transaction costs and attract commercial fuel customers.

Piston's technology is live at more than 2,000 fuel stations across 48 U.S. states, with point-of-sale integrations certified across systems covering more than 95% of U.S. merchant fuel sites.

Core offerings include:

• Cardless fuel payments
• Mobile payment authorization
• Real time fuel spend tracking
• Fleet payment management
• AI powered transaction monitoring
• Spending analytics

Core Technologies / Products / Services