Piston Raises $15M Series A to Expand Cardless Fuel Payment Network Across U.S.

Piston, a payment platform for commercial fleets, raised $15 million in Series A funding led by FPV Ventures, with Spark Capital and Pear VC participating, bringing total funding to $22.5 million, the company announced on September 22, 2026. The company reported an eightfold increase in payment volume over the past year and a 40-fold expansion of its merchant network. Piston now operates at more than 2,000 fuel stations across 48 states, with point-of-sale integrations certified on systems representing over 95% of U.S. merchant fuel sites. Piston replaces physical fuel cards with a system authorizing transactions for individual drivers and vehicles at the point of sale. The company is adding AI tools: Piston Guard flags or blocks suspected fraudulent transactions before completion, while the Piston Analytics Agent helps operators analyze spending data. The funding will accelerate network expansion, product development and senior hiring. Piston targets coverage across every U.S. region within 18 months and plans to eventually enter broader logistics payments infrastructure.