AtoB

The shipping and logistics sector supports the economy, but the payment system that underpins it is inefficient; the current set of payment instruments is out-of-date, challenging to use, vulnerable to fraud, and burdened by obfuscated charge structures.

Harshita Arora, Tushar Misra, and Vignan Velivela founded the technology business AtoB, which is developing payment infrastructure for the transportation sector. Telematics is used to reduce fraud and boost fuel economy. For businesses with cars and fleets of vehicles, where capital movement happens rapidly and openly, AtoB is modernising the payments infrastructure. The fleet-tracking software is integrated with a dashboard so truckers can view the price of fuel, their actual fuel expenses, and other pertinent information. With telematics, it seeks to increase the effectiveness of commercial transportation. Fuel cards are the major goods that AtoB sells. It functions like a credit card, although Atob does not require a credit report when applying for petrol cards. Any fleet may submit an application, regardless of size or credit. Your EIN, driver's licence, and documentation of your income from the last three months are the sole criteria for the AtoB gasoline card application. These gasoline cards enable you to save up to 43 cents per gallon of fuel, which is a fantastic offer for transportation and trucking businesses who frequently need to replenish their fleets. This has made it possible for AtoB's primary clientele to consist of logistics and transportation firms. These cards provide several additional features that make it simpler to track and manage travel spending along with such reductions. You have the ability to stop any transaction with the card that takes place outside of the vehicle's range or uses more petrol than the tank can hold. Other significant capabilities include the ability to rapidly enable or disable cards, whitelist or blacklist merchants, establish limitations on how much may be spent and when cards can be used, track fuel levels to assist guarantee no non-employee vehicles are filled, and more. The AtoB Driver App offers a map of stations and information on gasoline costs, so you can make sure your drivers fill up at the cheapest station along their route. The business provides two distinct gasoline cards. The Flex card, their initial product, is a charge card with a credit line designed for medium-sized to big fleets. There is no startup charge, but you must pay $3 per month and an additional 5% for late payments. The card prevents any unauthorised transactions and is extremely secure. The Unlimited Card, a Visa prepaid card ideal for small to medium fleets, is their second card. This has a $25 setup cost and a $3 monthly payment requirement, but there are no late payment penalties. You may also establish a small business credit with this card. In order to assist truckers in covering the costs of fleet management and maintenance, AtoB is now launching a new solution. They also have a premium membership option, which comes with benefits like priority assistance, multi-user dashboard logins, secure card unlock, set operational hours, whitelist merchants, and quick export for accounting software. These advantages aid in lowering fraud and card abuse.

The amount charged on the company's gasoline cards accounts for about $20 million of the company's income in 2022. The account setup cost for AtoB's unlimited gasoline card is $25. In addition, they also have a $3 monthly payment due on each of their cards. Additionally, their flex card has a 5% late payment fee. Additionally, a premium membership is available. They were one of the 25 businesses that we think most likely to reach a $1 billion value in 2022 thanks to their rapid development, which helped them earn the Forbes Next Billion-Dollar Startups list. AtoB presently employs 141 people, which has enabled them to expand to work with over 25000 transportation businesses. The fact that their card works at virtually any petrol station in the United States since it is a Visa card has also helped. With such remarkable success, AtoB attracted other investors, including General Catalyst, Elad Gil, and Bloomberg Beta, and obtained capital of over $182 million. Additionally, AtoB has an advantage over its rivals, which include businesses like Motive, Coast, Emburse, and Fleet One. Their lower account setup charge sets them apart from other gasoline cards. While most other cards charge between $30 and $50 for their unlimited vehicle, theirs just costs $25. Another difference between AtoB and other gasoline cards is that AtoB doesn't impose a transaction fee. It also features relatively cheap monthly and late payment fees when compared to other cards, which completely changes the game. In order to assist truckers in covering the costs of fleet management and maintenance, AtoB is now launching a new solution. Additionally, it is attempting to create bank accounts just for truck drivers, sponsored by a bank. Additionally, there are plans to expand internationally, starting with Canada and Mexico. Regarding the gasoline card, Velivela believes that when more transportation becomes electric, it will assist trucks in charging more effectively and affordably.

Click here to access AtoB's website