Car IQ, a California-based FinTech company that enables connected vehicles to make secure payments autonomously, has announced a new phase of growth funding, supported by Financial Technology Partners (FT Partners).
The new financing round follows an $8m strategic investment.
FT Partners has been appointed to lead Car IQ’s capital raising efforts and advise on its broader banking strategy.
Car IQ has developed a platform that allows vehicles to transact without the use of physical credit cards. By integrating directly into both vehicle systems and financial networks, the company enables secure payments for fuel, tolls, parking, and more. Its AI-powered technology also offers fraud prevention and simplifies transaction workflows for fleet operators.
The additional funds will support Car IQ’s plans to scale its services to newly signed enterprise customers across the fleet, banking, and automotive OEM sectors in 2026. This expansion reflects increasing demand for automated payment systems in mobility and commercial vehicle markets.
The company’s growing ecosystem of strategic investors includes major players such as Visa, Citibank, RBC, State Farm, Circle K, Telus, and Bridgestone.
FT Partners founder and CEO Steve McLaughlin said, “Car IQ has built an automated payment platform that allows vehicles to transact securely and autonomously—without the need for credit cards. Their traction with top fleets, issuing banks, and global OEMs signals a platform ready for scale, and we’re proud to help drive their next funding chapter.”
Car IQ CEO Sterling Pratz said, “We’re building a completely new financial channel—one where machines like cars and trucks manage payments themselves. With FT Partners as our strategic advisor, we’re entering the next phase: scaling across customers, categories, and capital markets.”
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