Led · Debt Financing · Jan 2022

P97 Networks provides a cloud-based mobile commerce and digital marketing platform that enables consumers to use third-party apps to activate pumps, pay for fuel, and receive loyalty discounts. The company serves the convenience retail and broader transportation sectors, including fuels marketing, fleet, and energy transition use cases. P97 reports substantial distribution, with more than 53% of U.S. gas stations connected to its platform. Management is focused on global expansion into EV charging, logistics/fleet management, digital marketing and data analytics, and payments/loyalty aggregation. The company emphasizes seamless integration and API capabilities as core technical strengths. Recent financing activity includes a growth debt facility intended to support continued market-share growth and product execution. P97 Networks provides a cloud-based mobile commerce and digital marketing platform for convenience retailers, energy marketers and mobility-focused businesses. Its proprietary APIs are used by a majority of the retail fuel market in North America. The platform tokenizes payments for security and functions as an engagement engine that tailors personalized experiences. P97 is positioning to expand into adjacent verticals including fleet, connected car, and EV charging to play a larger role in the transportation digital ecosystem. The company sells payment and loyalty solutions and intends to use new capital to accelerate those strategic growth initiatives. Company leadership emphasized accelerating consumer adoption of mobile payments and the importance of network effects to drive revenue and margins. P97 Networks offers a global, cloud-based Mobility Services platform that powers connected commerce, digital marketing, secure payments, identity, geolocation-based services, and loyalty aggregation for convenience retail, energy, utilities and auto OEMs. Its Mobility Services platform also functions as an engagement engine where payments are tokenized and tailored to personalized consumer experiences. The company said it will use new capital to accelerate user adoption across its Consumer Engagement platform, advance Energy Transition programs for clients, and expand its Mobility Services offerings and partnerships. P97 reported that over the past 18 months it more than doubled the number of retail sites on its Mobility Services platform, which now includes four of the five largest energy brands and serves over 60,000 convenience retail sites in the U.S. and Canada. The company secured a $40 million credit facility to support these growth initiatives. P97 is headquartered in Houston. P97 Networks offers cloud-based mobile commerce, in-vehicle payments and digital marketing solutions centered on its PetroZone platform for convenience retail, fuel and vehicle-manufacturing customers. PetroZone enables digital payments and purchase offerings for fuels and other products from mobile devices or connected cars, and it uses Microsoft Azure Cloud Services and multi-factor authentication for enhanced security. The platform is installed at more than 20,000 U.S. retail fuels locations. P97 was founded in 2012 and is based in Houston. The company intends to expand connected car services, voice-enabled payments, fuel retail innovations and blockchain technology. P97 has stated a goal of serving more than half of the U.S. fuel market by 2020. P97 Networks builds cloud-based mobile commerce and digital marketing solutions for the convenience retail and fuels marketing industry under the PetroZone brand. Its platform enables acceptance of mobile payments at the pump and in stores by leveraging existing POS and cash register systems, and personalizes find-buy-save experiences through identity and geo-location software. The company connects mobile phones and connected cars to deliver app-based customer experiences and targeted offers. In the announced partnership, P97 will work with FLEETCOR to deploy mobile payment applications and explore functionality such as in-store purchase authorization and personalized offers to drivers. The articles do not disclose revenue or other operating metrics. P97 positions its technology as a way for convenience store operators, marketers, and oil companies to attract and retain customers via mobile commerce.