FleetCor has raised $100 million, most recently in a Series E round led by Summit Partners in April 2009. The company is a global provider of specialized payment solutions for businesses, commercial fleets, major oil companies, petroleum marketers, and government organizations.
FleetCor’s products make fuel and fleet management simpler, streamline payments, and improve operational efficiency. Keep reading to learn more about FleetCor’s business model, funding journey, and the investors supporting its growth.
What Is FleetCor?
Founded in 2000, FleetCor has grown into a leading global provider of fleet payment and financial solutions. The company manages over 500,000 commercial accounts and millions of cardholders across North America, Europe, Africa, and Asia. Every year, it helps facilitate the purchase of more than $14 billion in fuel, demonstrating the scale and reliability of its operations.
FleetCor partners with more than 800 companies, from major oil brands like BP and Chevron to smaller regional petroleum marketers. Its platform provides businesses with tools for payment processing, expense management, reporting, and fraud prevention, helping teams save time, reduce errors, and maintain control.
For commercial fleets, FleetCor’s solutions make fuel purchasing and payments seamless, even across multiple vehicles and locations. Government clients and large enterprises benefit from customized reporting and compliance tools, enabling smoother financial operations at scale.
By combining a global network with specialized payment tools, FleetCor has become a trusted partner for fleet operators and businesses, helping them manage complex payments efficiently and reliably.
How Much Funding Has FleetCor Raised?
FleetCor’s funding history has focused on growth, technology, and global expansion:
- Series E (April 2009): $100M – Led by Summit Partners, this round helped FleetCor grow internationally, invest in technology infrastructure, and strengthen partnerships with major oil companies.
Total Raised: $100M
While FleetCor has a limited number of public funding rounds, it has expanded globally through strategic investments, strong operations, and a broad partner network that spans multiple continents.
Key Investors
FleetCor’s main investor, Summit Partners, brings both funding and strategic guidance:
Summit Partners – Founded in 1984, Summit is a global alternative investment firm with over $23 billion in capital raised. They invest across various sectors, including technology, healthcare, financial services, and consumer. Notable investments include Uber, Avast, and McAfee. Summit’s support has helped FleetCor expand its network, enhance technology, and scale operations worldwide.
Summit’s experience in backing high-growth companies has been key in positioning FleetCor as a market leader in fleet payment solutions.
Where Is FleetCor’s Headquarters?
FleetCor is headquartered in North America, placing it close to major commercial clients, oil partners, and financial networks. Its headquarters serves as a central hub for global operations, technology development, and strategic partnerships, effectively coordinating its international network.
What’s Next for FleetCor?
Looking ahead, FleetCor is focused on enhancing its technology platform, expanding globally, and deepening partnerships with key clients. Its solutions continue to help businesses improve payment efficiency, reporting accuracy, and operational oversight.
The company is exploring opportunities to enter new markets, particularly in Europe, Africa, and Asia. FleetCor is also expected to continue innovating in fraud prevention, analytics, and reporting tools, ensuring customers can manage fuel and fleet expenses with confidence.
With its combination of operational expertise, technology investment, and a trusted partner network, FleetCor is well-positioned to maintain its leadership in the fleet payment space while continuing to deliver value to businesses, commercial fleets, and government organizations worldwide.
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