$15 million Series A led by FPV Ventures with Spark Capital and Pear VC returning, taking total funding to $22.5 million in the 15 months since the company was founded.
Piston's entire engineering function is in Kolkata, where a five-person office opened in April 2023 has grown to 25 people building the technology behind a US payments network.
The substantive innovation is moving money over its own rails rather than through card networks, which removes interchange for merchants and retail markups for fleets. Going cardless is what makes…
Point-of-sale certification across systems covering more than 95% of US merchant fuel sites is the hardest thing the company has done, and the barrier that has protected incumbents for decades.
2,000 stations is a little over one percent of roughly 145,000 US fuel retail sites. No revenue, take rate or dollar volume has been disclosed.
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