TLDR:
- Fuel Me, a fuel procurement and management platform, raised $18 million in Series A financing.
- The funding was co-led by Pritzker Group Venture Capital and Tribeca Venture Partners.
A rapidly growing fuel procurement and management platform, Fuel Me, recently announced the closing of its $18 million Series A financing round. The funding was co-led by Pritzker Group Venture Capital and Tribeca Venture Partners, with other new investors including Bessemer Venture Partners, Interplay Venture Capital, FJ Labs, and more. Tribeca Venture Partners’ co-founder and partner, Brian Hirsch, has also joined the Board of Fuel Me.
Established in September 2020, Fuel Me has experienced significant growth, with a fivefold increase in performance metrics year over year. The company has completed over 20,000 fuel deliveries and now serves a growing list of Fortune 500 clients. Through strategic integrations, Fuel Me has improved national fuel pricing and tax compliance automation, enhancing procurement processes for large-scale operations.
Carlo Passacantando, Co-founder and CEO of Fuel Me, expressed excitement about the milestone funding, stating that it will enable the company to advance its technology and enhance customer service. Chris Girgenti, Managing Partner of Pritzker Group Venture Capital, highlighted Fuel Me’s potential to become a category-leading marketplace for fuel distribution, praising the company’s first-mover advantage in the digital marketplace space.
By leveraging AI-driven optimization and real-time weather monitoring for predictive ordering, Fuel Me aims to provide automated and efficient fuel deliveries tailored to enterprise needs. The company is viewed as a strategic partner in optimizing industry operations, revolutionizing traditional fueling methods.
As Tribeca Venture Partners’ co-lead investor, Brian Hirsch commended Fuel Me for disrupting the antiquated fuel procurement industry with its innovative platform. He expressed excitement about the company’s potential to redefine fuel procurement and management through a unique blend of innovation and practicality.
