Fintech firm Piston Technologies aims to raise $10-12 million in Series A funding by June 2025 to scale its operations in the US. Based in San Francisco, Piston specializes in digital payment solutions and recently secured $1.2 million in early-stage funding from Pear VC, a Silicon Valley-based venture capital firm.
“We want to raise capital to grow fast, but we also want to be conscious about it. The next round should probably be $10-12 million. We will see how it goes. We will try to raise as little as possible,” said Shivam Shah, COO & Founder of Piston Technologies Inc.
“Our current investor will continue to participate in the fundraising. We are obviously in talks with other investors as well. Maybe we will get a mix of all,” Shah said.
Shah from Kolkata partnered with Vikram Sekhon to establish Piston Technologies in October 2023. The company’s platform introduces innovative features to improve the B2B payment experience in the US. Its QR-based technology facilitates direct B2B transactions, eliminating intermediaries and reducing costs by avoiding traditional payment processors.
Shah said the upcoming Series A funding round will drive market expansion efforts across North America.
“It will be for expansion and to build our sales, engineering, and R&D team. Because we want to add a lot of product lines,” he said.
The company plans to stick to the US and the North American markets for now, while India will continue to be its hub for development, engineering, and customer support operations.
“In our Kolkata office, we have around 25 people. We want to expand to around 500 people by 2026. The core team in Kolkata has been working on engineering for building products,” Shah added.
