Truck Sharing Platform Fluid Truck Picks Up $63M in Series A Funding

by Gordon Gottsegen
March 2, 2021
Fluid Truck
Photo: Fluid Truck

Whether you’re about to move or pick up used furniture from Craigslist, sometimes you just need quick access to a truck. And while companies like U-Haul, Penske and Budget Truck Rental have been renting trucks for decades, Denver-based Fluid Truck is bringing truck leasing to the modern age.

On Tuesday, Fluid Truck announced the closing of its $63 million Series A funding round, led by Bison Capital. According to a company spokesperson, this is one of the largest Colorado Series A rounds to date.

Fluid Truck has created an app-based, peer-to-peer truck sharing platform that allows people to book vans, pick-up trucks, box trucks, cars, SUVs and even trailers. People can book 24/7 through the app, and rent their vehicle by the hour, day or week. The company has also created Fluid Truck for Business, which allows businesses to rent a fleet of trucks or just a couple of spare vehicles.

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“Easy and affordable mobility is critical for the success of small and medium-sized businesses,” Andreas Hildebrand, a partner at investor Bison Capital and Fluid Truck board member, said in a statement. “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.”

Fluid launched in 2016 as an item-sharing marketplace in 2016, but rebranded to become a truck sharing platform in 2019. That same year, Fluid Truck expanded outside of its Denver headquarters to also serve Los Angeles and Dallas. 2020 was a big year for Fluid Truck’s growth, launching in nine new markets across the country and growing its revenue by 6x.

This new funding will allow the company to invest in its platform and diversify its fleet. Fluid Truck also plans to use some of this funding to grow its engineering and operations teams, with several Denver-based positions currently open. The company also hopes to expand to more new markets in the future.

In addition to Bison Capital, the company also received funding from Ingka Investments of IKEA parent company Ingka Group. This investment marks a partnership between Fluid Trucks and IKEA, which will allow the furniture retailer to leverage Fluid Truck’s fleet for delivery solutions.

“We are delighted with this investment in Fluid Truck as this partnership is closely aligned with our zero emission customer delivery ambitions,” Krister Mattsson, managing director of Ingka Investments, said in a statement. “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 [and] continue to improve on our customer promise while also reducing our environmental footprint.”

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Jobs at Fluid Truck

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