Fintech & Ecommerce

Uber Freight Launches Fleet Card With Spend Management Tools

Uber Freight and AtoB have established a partnership to provide access to fintech tools to cargo transportation operators.

Uber Freight Launches Fleet Card With Spend Management Tools

Source: motionarray.com

As part of this cooperation, Uber cargo carriers who are eligible to participate in the partnership project of the two companies can manage fuel purchases using an Uber card and use cost management software integrated with the Uber Freight platform. This is stated in a joint press release of the firms.

Lior Ron, CEO of Uber Freight, said that at the moment carriers are in particular need of a solution that greatly simplifies financial management, provides fast money transfer, and guarantees high-quality control over cash flows in the future.

The research results indicate that more than half of American transport companies characterize the introduction of innovative platforms in the process of settlements with creditors as one of the main goals.

The advantages of optimization are confirmed through practical experience. More than 60% of companies that have automated AP processes reported a positive result

With the addition of the AtoB fintech payment platform to the Uber Freight digital freight market and managed transportation network, carriers will have access to exclusive fuel discounts, same-day payments, and simplified cost reporting and monitoring.

Carriers can also use an Uber card, which is accepted at fuel retailers that support Visa cards.

AtoB CEO Vinyan Velivel says that within the framework of this partnership, the fleet’s finances are combined with powerful banking, credit, and debit instruments. The head of the company also noted that cooperation is an important growth point for fleet operators throughout the United States.

The news about the start of cooperation appeared about eight months after AtoB raised investment funds for $155 million following the results of the Series B financing round. Then the company said that the financing would be aimed at expanding the scope of activities and providing working capital to operators of small fleets. The firm notes that there are no yet basic innovations related to digitalization in the field of cargo transportation.

As we have reported earlier, Uber Expands Robotic Delivery to Lower Cost.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.