Boston, United States
Cardata, a startup founded in 1999, operates in the convergence of the Logistics, SaaS, and Automotive industries. Based in the United States, the company distinguishes itself as a fully-managed vehicle reimbursement platform for businesses whose employees use personal vehicles for work.
With over 25 years of expertise, Cardata offers comprehensive solutions such as Fixed & Variable Rate Reimbursement (FAVR), Tax-Free Car Allowance (TFCA), and Cents per Mile Reimbursement (CPM). Their proprietary mileage capture software, coupled with robust reporting tools and compliance services, ensures fair and tax-free reimbursements by leveraging IRS regulations and a detailed database of cost information.
The startup received a significant boost with a $100.00M Private Equity Round investment on 28 September 2023 from MassMutual Ventures and Wavecrest Growth Partners. This investment reflects confidence in Cardata's ability to simplify vehicle reimbursements, reduce liability, and drive cost efficiencies for businesses. As such, the company stands poised for growth and innovation in its sector.
