About Car IQ
Car IQ is a company based in San Francisco (United States) founded in 2016 by Sterling Pratz was acquired by Element in December 2025.. Car IQ has raised $43 million across 4 funding rounds from investors including Visa, Ally and TELUS. Car IQ offers products and services including Car IQ Pay and Car IQ App. Car IQ operates in a competitive market with competitors including PayByCar, Giant Eagle Prepaid, MineralAnswers, Fleet DriverDash and ZwiftPay, among others.
- Headquarter San Francisco, United States
- Founders Sterling Pratz
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Sectors
Financial ServicesTransportation, Automotive & Logistics
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Email
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Phone
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Website
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Social
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- Legal Name Car Iq Inc
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Products & Services of Car IQ
Car IQ offers a comprehensive portfolio of products and services, including Car IQ Pay and Car IQ App. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Secure platform for fuel and toll payments to reduce fleet fraud.
Mobile app for easy fuel pump unlocking and transaction receipts.
Funding Insights of Car IQ
Car IQ has successfully raised a total of $43M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $8 million completed in July 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series B — $8.0M
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First Round
First Round
(25 Jun 2019)
- Investors Count 18
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2025 | Amount | Series B - Car IQ | Valuation |
investors |
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| Feb, 2023 | Amount | Series B - Car IQ | Valuation |
investors |
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| Aug, 2021 | Amount | Series B - Car IQ | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Car IQ
Car IQ has secured backing from 19 investors, including venture fund and institutional investors. Prominent investors backing the company include Visa, Ally and TELUS. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Investments are made in US tech companies by Forte Ventures.
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Venture capital firm focused on CSAA Insurance Group
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Venture capital is directed toward companies in multiple sectors.
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Car IQ
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Car IQ
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Car Iq Comparisons
Competitors of Car IQ
Car IQ operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as PayByCar, Giant Eagle Prepaid, MineralAnswers, Fleet DriverDash and ZwiftPay, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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Toll payments are enabled through text-based responses with E-ZPass integration.
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| domain | founded_year | HQ Location |
Provides a mobile app for convenient fuel payments.
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| domain | founded_year | HQ Location |
Portal providing information and news about oil and gas industry
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| domain | founded_year | HQ Location |
Delivers a mobile app for seamless fuel payments and transactions.
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| domain | founded_year | HQ Location |
Facilitates contactless payments specifically at gas stations.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Car Iq
Frequently Asked Questions about Car IQ
When was Car IQ founded?
Car IQ was founded in 2016 and raised its 1st funding round 3 years after it was founded.
Where is Car IQ located?
Car IQ is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Who is the current CEO of Car IQ?
Sterling Pratz is the current CEO of Car IQ. They have also founded this company.
Is Car IQ a funded company?
Car IQ is a funded company, having raised a total of $43M across 4 funding rounds to date. The company's 1st funding round was a Series B of $15M, raised on Jun 25, 2019.
What does Car IQ do?
Car IQ was founded in 2016 in San Francisco, United States. In-vehicle payment solutions for commercial fleets are offered in the fintech sector. Contactless transactions at fuel stations are facilitated through integrated vehicle systems. Physical fleet cards are replaced by centralized expense charging and consolidated billing. Operations focus on streamlining fleet management and payment processes across the United States.
Who are the top competitors of Car IQ?
Car IQ's top competitors include PayByCar, MineralAnswers and Giant Eagle Prepaid.
What products or services does Car IQ offer?
Car IQ offers Car IQ Pay and Car IQ App.
Who are Car IQ's investors?
Car IQ has 19 investors. Key investors include Visa, Ally, TELUS, Blackberry, and Citi.