PayByCar collects $4m in seed funding

PayByCar, a Massachusetts-based mobile payments startup, has raised $4m in seed funding.

PayByCar is a FinTech startup specialising in pay-by-text solutions, which allows drivers to perform contactless payments on gas purchases at participating locations from their mobile device, without ever having to touch the pump screen or use cash, credit cards, or mobile apps.

Following PayByCar’s 2021 state-wide launch of its exclusive in-vehicle payment platform, the company said it has grown awareness through retail, transit, and FinYech partnerships across the nation, including partnerships with the E-ZPass Group, state DOTs, Global Partners LP, Star Systems International, and others.

Anand Raman, president, and co-founder of PayByCar, said, “Following a string of successes since our 2020 pre-seed round funding, today’s announcement is the beginning of our next chapter in financing expansion of our services across states, and industry verticals like parking, retail, and other sectors.”

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