Uber Freight, the logistics business spun out of Uber in 2018, is partnering with transportation fintech startup AtoB to offer carriers fuel cards and spend management software.
AtoB, a four-year-old company that has been described as Stripe for transportation, offers an integrated financial platform based around its core product of a fuel card for truckers. Unlike other fuel cards offered by competitors like Brex and Fleetcor, AtoB’s fuel card is based on the Visa platform, so payments are more likely to be accepted at a wider range of fuel retailers. There are also no hidden or annual fees, according to the company.
While the carrier fuel card and spend management software will be integrated directly with Uber Freight’s product and platform, it will be powered by AtoB. Truckers will be able to access exclusive fuel discounts at participating truck stops, free same-day payouts on Uber Freight loads and streamlined expense reporting and controls, according to AtoB.
AtoB offers two versions of its fuel card: the Flex Card and Unlimited. The former is a charge card with a credit line, and the latter is a prepaid card. The startup says the prepaid card gets approved regardless of credit score, and can help businesses build credit.
AtoB’s fuel card also addresses fuel theft, which the company says is a major cost driver for fleets. Telematics location tracking and fuel-level tracking help AtoB note both if a card is being used far away from the assigned vehicle and if the card is being used too soon after fueling and block transactions to prevent theft and fraud.
AtoB was founded in 2019 with a mission to help alleviate the trucker shortage by solving some of the industry’s biggest pain points: outdated and unreliable fuel cards, and outdated and broken payroll. In just four years, AtoB has scaled to a network of 25,000 businesses and 100,000 truck drivers in the U.S. The partnership with Uber Freight will give AtoB access to the logistic company’s 100,000 carriers and thousands of shippers.
“Carriers need innovative tools and solutions to build thriving businesses, maximizing their time and earnings potential on the road,” said Uber Freight CEO Lior Ron in a statement. “Since our beginning, Uber Freight has brought much-needed transformation to the industry. We’ve introduced driver-first carrier solutions that improve the economics of truck ownership for the thousands of drivers on our platform. Now more than ever, carriers need a solution that simplifies finances, brings same-day payments to wallets, and supports better cash flow management for the future.”
Uber Freight has consistently tapped startups to beef up its business and integrate new tech solutions. While the partnership with AtoB seems to acknowledge that human truckers aren’t going anywhere just yet, Uber Freight has also secured partnerships with autonomous trucking companies like Aurora and Waymo Via in recent years.
As carriers on Uber Freight’s platform inevitably go electric in the future, AtoB says its platform can also support fleet transitions to electric and next-gen clean fuels.
Uber Freight offers carriers a fuel card powered by startup AtoB by Rebecca Bellan originally published on TechCrunch
