MIAMI, Florida (March 12, 2018)- Neighborhood Fuel, a Miami-based app that delivers gas to you at work or residential complex, today announced it has completed a $2 million Series A round of financing. Softbank Capital NY led the investment round with participation from Lerer Hippeau. The $2 million investment will help the company scale its successful service to businesses, corporate campuses and residential complexes, while delivering enhanced convenience and value to customers.
“Our vision is simple, to give people time back in their day. Peace of mind is getting into your car and not worrying about whether you have enough gas or dealing with the time and traffic it takes to get to the pump,” said Neighborhood Fuel CEO and Founder Jorge Camaraza. “We view the process of filling your tank as a benefit businesses can offer employees and an amenity residential complexes can offer residents. Softbank Capital NY and Lerer Hippeau’s strategic support is a validation of our position within an on-demand, app-driven economy, and we’re excited to work with them during this growth period.”
Neighborhood Fuel partners with businesses and residential complexes to deliver gasoline directly to company fleets, employees and residents’ vehicles onsite. Customers simply download the Neighborhood Fuel app, set up payment and then select the schedule that best works for them. Once registered, customers confirm their order and location for service, as well as select their desired gasoline grade, priced the same as the pump.
“They are truly applying technology, from logistics to the mobile app, to solving an issue most consumers encounter several times a week,” says Jordan Levy, Softbank Capital NY. “Neighborhood Fuel’s offering is well-timed with the rapidly increasing need for on-demand solutions. We believe Neighborhood Fuel is a powerful solution for the industry and we are excited to collaborate with and support them as they work to build a great company in an exciting category.”
The Series A financing builds on an exceptional year for Neighborhood Fuel, which saw a rapidly growing roster of clients including Royal Caribbean, Carnival Cruise Lines, Perry Ellis, Southern Wine and Spirits, University of Miami Health, Enterprise, Sixt and Alamo, among others.
“Jorge has had success building companies in challenging spaces, and we’re certain he can translate his experience to make Neighborhood Fuel his next win,” said Julian Moncada, Lerer Hippeau. “We invest in people, first and foremost, and we’re confident in Jorge and his ability to build this company.”
Neighborhood Fuel plans to expand its fueling service throughout South Florida and beyond.
Filling up your car can be a hassle, especially when there are lines at the gas station. It also costs too much because part of it is covering real estate costs. A Miami company called Neighborhood Fuel has a solution for this and has partnered with major SoFlo employers to send its gas trucks to office parking lots. Neighborhood Fuel can save you time by filling your tank while you’re at work. The time-consuming, inconvenient trip to the gas station hasn’t changed in decades. Neighborhood Fuel provides a more consumer-friendly, safer and sustainable refueling experience.
Now the gas delivery company has secured a $2 million Series A, led by Softbank Capital NY. Its current SoFlo customers include Royal Caribbean, Carnival Cruise Lines, Perry Ellis, Southern Wine and Spirits, University of Miami Health, Enterprise, Sixt and Alamo, among others – they offer Neighborhood Fuel to their employees as a perk. For many people, a full tank of gasoline at the end of their workday is a life saver – it’s one less stop you have to make on your way home after sitting in traffic.
Property managers can offer the service to residents as an amenity at residential complexes. Neighborhood Fuel partners with businesses and residential complexes to deliver gasoline directly to company fleets, employees and residents’ vehicles onsite. **During Hurricane Irma when gas was scarce, Neighborhood Fuel provided gas to all Royal Caribbean employees.
As you know, gas stations are also becoming obsolete – esp here in SoFlo. Many gas stations are closing as result of their real estate value being worth more than the business. With Miami being a car-centric city with over 5 million registered drivers, Neighborhood Fuel is filling (pun intended) that void. In the downtown Miami area – where Neighborhood Fuel service Royal Caribbean – gas stations have disappeared off the map. The closest is in Brickell or Wynwood area. Same goes for Miami Beach – there are only 3 left with the recent closure of Shell on Alton and 17th Street. Miami Beach is about to lose another one in the next few months.
About Neighborhood Fuel
Founded in 2014, Miami-based Neighborhood Fuel is an app that delivers gas to you at work or your residential complex. It fuels you up when your car is parked, so it’s ready to go when you are. No delivery fees and comparable prices at the pump make Neighborhood Fuel a convenient, safe and cost-efficient solution to your re-fueling needs. Founded in Miami, Florida, it currently serves various communities and companies in Miami-Dade and is rapidly expanding to Broward and West Palm Beach.
About Softbank Capital NY
Softbank Capital NY provides venture funding and strategic support to exceptional entrepreneurs building disruptive enduring businesses. They are a small team of experienced entrepreneurs and investors who take an “active” approach to helping their companies reach their full potential. They manage $600 million across four funds and invest across a company’s lifecycle, from early to growth stages.
About Lerer Hippeau
Lerer Hippeau is an early-stage venture capital fund based in New York City. We invest in founders building companies across all categories, with a keen focus on brand. When we find these entrepreneurs, we hope to form long-term partnerships and help take their companies from seed to Series A and find further, sustained growth.