Piston Raises $15 Mn in Series A to Expand US Payments Network

The latest round takes Piston’s total funding to $22.5 million. The company had earlier raised $1.2 million in a pre-seed round led by Pear VC in October 2024 and $6.1 million in a seed round led by Spark Capital in April 2025.

Piston will use the new funding to expand its payments network across the US, improve its product and hire senior leaders for key roles. Over the next 18 months the company plans to build coverage across all US regions and expand beyond fuel into broader logistics payments infrastructure.

Piston is headquartered in the US and has an engineering centre in Kolkata, which will continue to support the company’s product and technology development as it expands.

Piston co-founder & CEO Vikram Sekhon said, "Fleet fuel fraud is a physical card problem, disguised as a detection issue. We removed the card and built a network that authorises every purchase for a specific driver and vehicle at the point of sale. This round lets us expand that infrastructure until no commercial driver has to ask whether a station accepts Piston."

FPV Ventures Partner Nikunj Kothari said, “Fuel is one of the largest B2B spend categories in America, and every transaction still runs through decades-old card infrastructure. Piston moves that money over its own rails, with no card networks or intermediaries in between. Vikram ran hundreds of trucks and felt this pain every day, and Shivam recruited thousands of drivers before they wrote a line of code. This is a new payment network in a massive market, built by the people who actually lived the problem.”

About Piston

Founded in June 2024 by Vikram Sekhon and Shivam Shah, Piston has built a cardless payments network for commercial fleets. Its platform connects fleet operators with gas stations and convenience stores giving fleet owners real time visibility into fuel spending without the need for physical fuel cards

The platform also helps merchants reach commercial fleet customers, reduce transaction costs and increase in store sales from regular fleet visits.

Piston runs a cardless payments network that connects commercial fleets with gas stations and convenience stores. Its technology works with point of sale systems allowing fleet owners to track and manage fuel spending without using physical fuel cards.

The platform gives fleet owners real-time details of fuel purchases and connects each transaction to the relevant driver and vehicle. For merchants Piston helps bring in more fleet customers, lower transaction costs and increase in store sales.

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