Fuel Me, a Chicago, IL-based provider of a fuel procurement and management platform, raised $18M in Series A funding.
The round was led by Pritzker Group Venture Capital and Tribeca Venture Partners. Other investors included Bessemer Venture Partners, Interplay Venture Capital, FJ Labs, HPA (Hyde Park Angels), Bridge Ventures, Correlation Ventures, Forefront Venture Partners, and Gaingels.
The company intends to use the funds to accelerate the development of advanced technology while continuing to deliver services to its customers.
Co-founded by CEO Carlo Passacantando and COO Boy Schook, Fuel Me provides the fuel procurement industry with solutions that utilize technology to streamline fuel management and distribution, ensuring operational efficiency, cost savings, and sustainability. The company has completed over 20,000 fuel deliveries and now serves an expanding roster of Fortune 500 clients.
Commenting on the news, Carlo Passacantando said: “This funding marks a significant milestone, enabling Fuel Me to accelerate the development of advanced technology while continuing to deliver unparalleled service to our customers. With the support of our investors, we are poised to rapidly expand our market share as we redefine fuel procurement to meet the evolving needs of both the U.S. and global energy markets.”
FinSMEs
21/03/2024