Fintech startup Piston has raised $7.5 million in funding, including a recent $6.1 million seed round led by Spark Capital, with participation from Pear VC and BOND.
The round follows a $1.4 million pre-seed through the PearX accelerator.
Piston aims to modernize fleet fuel payments by replacing traditional card-based systems with a QR-code-based, cardless payment infrastructure that links transactions to vehicle, time, location, and fuel data—eliminating card fraud, price markups, and hardware dependencies.
The startup was founded by former fleet operators Vikram Sekhon and Shivam Shah. Shah also leads the company’s India operations, with a 25-member engineering and operations team in Kolkata, expected to double over the next year.
Also Read | Wealthtech Startup PowerUp Money Raises $7.1 Mn in Funding
Piston currently works with 120+ fleets and 800 gas stations, processing over $20 million in annualized volume and growing 50% month-on-month.
The company is headquartered in Cupertino, with additional operations in Lehi, Utah, and plans to use the fresh capital to scale go-to-market efforts and expand its U.S. network.
