Connected card technology developer Zubie has received a significant investment from Decathlon Capital Partners to help it launch new features.
With the capital, Zubie is looking to expand its fleet-management platform, release new capabilities and address new markets.
The size of the investment was not disclosed, but it was a multi-million-dollar funding package. Decathlon made the investment as a revenue-based financing solution, which allows Zubie to access capital without needing to sell equity or endure any governance changes.
Minnesota-headquartered Zubie provides a connected car platform, GPS tracking and fleet-management software. The company has previously been awarded Best Insurance Telematics Product and Best OBDII Device with Software and Services.
Its Rental Connect product claims to be the first fleet-management solution dedicated to serving the rental-car industry. It offers real-time fuel and odometer readings, which speed up the check-in and check-out process for rental operators.
To support this service, the company also launched Smart Maintenance, an online solution to help fleet managers track, schedule and pay for service online. Another company one of its newly launched features is the Zubie Dashcam, which captures both forward-facing and in-cabin video data.
Zubie CEO Chad Caswell said, “As the car-rental business rebounds quickly from the effects of the pandemic, and as fleet operators continue to seek cost-effective tools to handle their complex responsibilities, Zubie has found strong acceptance for its forward-looking technology.”
Copyright © 2022 FinTech Global
