PE-VC Fund Investments
Cross-border payments tech firm Piston raises $15-M led by FPV Ventures
Kolkata- and USA-based payments tech firm Piston has raised USD 15 million in a Series A funding round led by FPV Ventures, with participation from existing investors Spark Capital and Pear VC. This investment brings the total capital raised by the company to USD 22.5 million.Founded in June 2024 by Vikram Sekhon and Shivam Shah, Piston operates a cardless payments network that connects commercial fleets in the US with gas stations and convenience stores. The company plans to use the new funds to accelerate the national expansion of its payments network, advance product development, and recruit senior leadership across key business areas over the next 18 months.Piston supports over 2,000 stations across 48 states in the US and has integrated its systems with merchants covering more than 95% of the US fuel retail market. The company also intends to launch two AI-powered products: a fraud-detection tool called Guard and an analytics agent designed to help fleet owners monitor and analyse spending patterns.
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