AtoB Raises $155M in Series B and Debt Funding


AtoB, a San Francisco, CA-based provider of a fintech payments platform for the trucking industry, raised $155M in Series B funding.

The funding is a combination of equity and debt and CAC financing to provide working capital to small fleet businesses. This latest investment brings AtoB’s total debt and equity raise to $230 million.

The equity round was led by Elad Gil and General Catalyst with participation from existing investors Collaborative Fund, Contrary Capital, XYZ Venture Capital, and Leadout Capital. Prior rounds were led by General Catalyst and Roy Bahat of Bloomberg Beta. Individual and institutional backers include Eric Schmidt, former Google CEO and Alphabet executive chairman; Marc Benioff’s TIME Ventures; AngelList Founder Naval Ravikant; DoorDash founders Tony Xu and Stanley Tang; Coinbase founder Brian Armstrong; Instacart CEO Fidji Simo; Jack and Max Altman of Altman Capital; and Long Journey Ventures.

The company intends to use the funds for new product development, working capital for small businesses, and international expansion.

Led by CEO Vignan Velivela, AtoB provides a fintech payments platform for drivers and fleet operators to access to financial products such as no-fee fleet cards; instant direct-deposit payroll; and bank accounts and savings tools.