Piston, a financial technology company specializing in fuel payment infrastructure, has successfully closed a $15 million funding round. The company intends to utilize these funds to accelerate the expansion of its cardless payment network, which is designed to streamline transactions at fuel stations for both consumers and fleet operators.

The technology aims to replace traditional physical payment cards with digital, automated systems at the pump. By removing the need for physical cards, Piston claims the system reduces transaction friction and enhances security for fuel retailers and their customers. While the company has not disclosed the specific list of investors involved in this round, the capital injection marks a significant milestone in their efforts to modernize the fuel retail experience.

As the industry shifts toward digital-first payment solutions, Piston is positioning itself to capture a larger share of the fuel transaction market. The company’s growth strategy focuses on scaling its infrastructure to support wider adoption across various fuel retail networks. This funding follows a broader trend in the fintech sector, where companies are increasingly targeting niche, high-volume industries like fuel and energy to implement specialized payment processing solutions. Piston’s expansion plans are expected to roll out over the coming months as they integrate their technology into more retail locations.