Car IQ raises 6 M$ in Series A for autonomous payment gateway for vehicles

Our portfolio company, CAR IQ, leader in vehicle commerce technology, announced it has closed Series A funding of 6 M$, led by Quest Venture Partners with participation from other investors including Avanta Ventures, Citi Ventures, Plug and Play, AVG’s Spike and Alpana Ventures.

Ventures.CAR IQ is developing a payment gateway that will enable vehicles to autonomously connect to a bank’s payment network, validate and pay for their own services. The fundraising round will support the acceleration growth of autonomous validation and payment gateway for fleet managers, removing the need for credit cards in vehicle service and payment workflows.

Downlaod the company’s press release