Rally

What do they actually do

Rally sells a fleet payment platform with Visa-powered physical and virtual cards that drivers can use for fuel, EV charging, parking and vehicle services across Europe and the UK. The cards plug into a dashboard that shows transactions in real time, applies spend rules (by driver or vehicle), blocks risky merchants, schedules card freezes, and flags suspected fraud. Receipts are captured via photo and matched automatically to the right transaction using OCR, with odometer capture supported, so finance teams see clean, categorized records as purchases happen (site; DriverLink post; feature roundup).

The driver workflow is WhatsApp‑first: drivers “check in” to a shared card at the start of a shift, then snap a receipt and (optionally) the odometer after fueling; Rally auto‑matches and enforces rules in the moment (DriverLink). Rally says its network spans 1,000,000+ fuel/charging/service points and markets savings from reduced misuse and admin time, though customers will still want to validate results in their own ops (contact/claims).

On the roadmap, they plan deeper finance automation (accounting integrations like Xero/QuickBooks/Sage, invoicing), payroll/reimbursements, VAT/receipt compliance and telematics cross‑checks to verify transactions against vehicle location. These are stated “coming soon” items rather than live, and expanding across countries will require material compliance work (site; feature roundup).

Who are their target customer(s)

• Fleet operations manager at a logistics or delivery company: Needs live visibility and controls because pump spend is often discovered late, causing route disruption and post‑hoc investigation. Wants instant transaction streams, driver check‑in, and rules to prevent misuse at the pump.
• Head of finance/accounting for a transport fleet: Month‑end is slowed by missing receipts, manual OCR/CSV cleanup and reclassification of spend. Wants automatic receipt capture, real‑time matching and direct accounting exports to close faster.
• Small business owner running construction or home‑services vehicles: Spends time issuing cards, chasing receipts and pausing cards for shifts instead of running the business. Needs simple driver workflows that are actually followed and per‑driver/vehicle controls to reduce admin.
• Compliance or fleet safety manager at a medium/large operator: Must prove purchases match vehicle/odometer and comply with VAT/tax across countries to avoid fraud and penalties. Wants telematics cross‑checks and strong receipt/VAT documentation.
• Driver or field worker using the card: Dislikes extra apps and paper receipts; delays in reimbursements create friction. Wants a quick, familiar flow to check in and submit receipts without managing another app.

How would they acquire their first 10, 50, and 100 customers

• First 10: Run 4–8 week paid pilots with 8–10 local fleets (last‑mile, construction, home‑services) from the founders’ network/YC intros. Provide white‑glove onboarding and agree on 2–3 measurable goals (e.g., missing receipts, recon speed) to convert pilots.
• First 50: Use pilot case studies and short walkthroughs in targeted LinkedIn/email outbound to fleet ops managers; have inside sales book demos and sell short implementation packages. Layer a referral bonus for existing customers and drivers.
• First 100: Sign channel deals with fuel networks, telematics providers, leasing firms and regional card resellers to co‑sell Rally; launch self‑serve onboarding for SMBs. Add small local sales teams in 2–3 core EU markets and a simple reseller program.

What is the rough total addressable market

Top-down context:

Europe has about 37.4 million commercial vehicles and buses in use, including ~30.2 million vans and ~6.5 million trucks, indicating a very large base of vehicles with recurring on‑road spend (ACEA).

Bottom-up calculation:

If vans spend ~€3,000/year on cardable items (fuel/charging/parking/services) and trucks spend ~€50,000/year, that implies ~€90B (vans) + ~€325B (trucks) ≈ €415B annual volume. At a blended net take rate of ~0.7% on card volume plus €3/vehicle/month SaaS, TAM for Rally‑like revenue would be roughly €2.9B from payments + €1.3B from SaaS (assuming ~36M vehicles), totaling ~€4.2B.

Assumptions:

• Addressable region ≈ EU+UK and similar European markets; mix roughly 30.2M vans and 6.5M trucks (ACEA).
• Annual spend assumptions: ~€3k per van and ~€50k per truck on fuel/charging/parking/services; excludes tolls/repairs variance by segment.
• Rally’s long‑run net take rate ~0.7% of processed volume and SaaS at ~€3/vehicle/month across the active base.

Who are some of their notable competitors

• DKV Mobility: Large European fuel/charging/toll network and fleet services provider with multi‑brand acceptance and digital tools; widely used fuel cards across 50+ countries.
• UTA Edenred: Fuel and mobility cards with one of Europe’s largest acceptance networks, consolidated invoicing and VAT/toll services; strong presence across EU fleets.
• Eurowag: Integrated payments, fuel cards, telematics and tax refund services for commercial road transport in Europe; recently expanded with an open‑loop Visa card option (Eurowag; Visa card news).
• Shell Fleet Solutions (Shell Card): Global network fuel/EV charging card and online management (Fleet Hub) with controls, reporting and consolidated invoices; strong enterprise footprint in Europe (Shell).
• bp Fleet Solutions (bp Plus): European fleet cards and mobility services with large site coverage and digital tools for card controls and invoicing; common alternative to multi‑brand networks in EU fleets.