Fluid Truck raises $63 million
Fluid Truck, the truck sharing platform for businesses, has raised $63 million in Series A funding led by Bison Capital, with participation from Ingka Investments (part of Ingka Group, the main IKEA retailer), Sumitomo Corporation of Americas, and Fluid Vehicle Owners.
Founded in 2016, Fluid Truck’s P2P truck sharing platform offers access to a variety of options including box trucks, trailers, vans, and pickup trucks. The Colorado-based startup also provides solutions for businesses around building a “flexible fleet,” managing employee scheduling, and GPS tracking.
In terms of insurance, the startup offers borrowers two options – Fluid Protect and Fluid Protect Premium which come with a max of $3,000 and $500 out-of-pocket, respectively.
“Easy and affordable mobility is critical for the success of small and medium-sized businesses. Yet the prehistoric tools and models of traditional incumbents often make vehicle rental cumbersome. Fluid Truck’s easy-to-use app allows business owners to flexibly and affordably build their fleet, manage employee scheduling on-the-go, and safely operate with GPS tracking and roadside assistance. They’ve demonstrated their ability to successfully scale, and we’re thrilled to partner with the team as they grow and provide individuals and businesses with 24/7 mobile access to a wide array of trucks and vans.” – Andreas Hildebrand, Partner at Bison Capital, and Fluid Truck board member.
“We are delighted with this investment in Fluid Truck as this partnership is closely aligned with our zero emission customer delivery ambitions. Fluid Truck has an increasingly electrified delivery fleet across the U.S so this is another step in enabling IKEA Retail to provide last mile delivery services to our customers, continue to improve on our customer promise, while also reducing our environmental footprint. We are impressed with the company’s team, innovative mindset, revenue traction to date and their continued growth.” – Krister Mattsson, Managing Director of Ingka Investments.