Car IQ Inc.

Car IQ Inc. is a San Francisco-based financial technology company focused on revolutionizing the way payments are made. Through its innovative solution, Car IQ Pay, the company eliminates the need for physical cards by connecting vehicles directly to merchants for secure and seamless transactions. By leveraging telematics and vehicle data, Car IQ offers detailed insights to fleets, enabling them to track every payment and prevent fraud. Additionally, the platform consolidates transactions into a single ledger, simplifying reconciliation and enhancing spending management for fleets. Furthermore, Car IQ provides merchants in its network with the ability to gain a deeper understanding of customer needs, empowering them to deploy personalized, location-based offers. This technology also reduces transaction risks, thereby mitigating friendly fraud, chargebacks, and disputes. Established in 2016, Car IQ has garnered significant support from strategic investors such as Visa, Forte Ventures, State Farm Ventures, TELUS Ventures, Avanta Ventures, Bridgestone, Navistar, and Circle K. The most recent Series B investment of $15.00M occurred on February 7, 2023, with backing from EnerTech Capital, Telus Ventures, Avanta Ventures, Forté Ventures, Navistar, Visa, State Farm Ventures, Circle K Venture, and Bridgestone Corporation. In summary, Car IQ presents a compelling proposition in the realms of big data, fintech, logistics, and automotive industries, and its ability to garner support from key industry players underscores its potential in transforming the future of payments and fleet management.