What is Mudflap?
Mudflap operates a user-friendly app and fuel card service designed to significantly reduce fuel costs for truckers, particularly owner-operators and fleets. By offering instant savings and fleet management tools, Mudflap aims to alleviate a major operational expense for its target demographic. The company has established a substantial network of over 2,800 truck stops nationwide, supporting both independent truck stops and regional chains. Its service is highly regarded within the trucking community, evidenced by a 94% user recommendation rate, attributed to its intuitive interface and responsive support.
How much funding has Mudflap raised?
Mudflap has raised a total of $50M across 1 funding round:
Series B
$50M
Series B (2022): $50M with participation from Commerce Ventures, 9Yards Capital, and QED Investors
Key Investors in Mudflap
Commerce Ventures
Commerce Ventures is an investment firm specializing in the infrastructure for future industries in retail and financial services, with a focus on retail tech, payment tech, insurance tech, and banking tech.
9Yards Capital
9Yards Capital is a growth stage technology investment firm focused on critical infrastructure for foundational industries, supporting teams aiming to transform trading and transaction technologies.
QED Investors
QED Investors is a global venture capital firm focused on investing in early-stage, disruptive financial services companies, leveraging operational experience to drive breakthrough growth.
What's next for Mudflap?
The recent major strategic investment, as part of Mudflap's significant enterprise-level funding, signals a strong validation of its business model and market position. This capital infusion is expected to fuel further expansion of its network, enhance its technological offerings, and potentially broaden its service portfolio to include more comprehensive fleet management solutions. Mudflap's focus on reducing operational costs for truckers positions it well to capitalize on the ongoing demand for efficient logistics and supply chain services. The company's trajectory suggests a move towards scaling its operations and solidifying its role as a key financial technology partner for the trucking industry.
See full Mudflap company page
