Corpay

Corpay, Inc. (formerly Fleetcor Technologies), headquartered in Atlanta, Georgia, provides payments and spend management systems and services that control expense-related purchasing and payment processes. The company focuses on vehicle-related expenses, lodging expenses, and corporate payments.^[2]

Corpay, Inc.

The Terminus 100 Building, headquarters of Corpay in Atlanta, Georgia
Company type	Public
Traded as	NYSE: CPAY S&P 500 component
Industry	Financial data services
Founded	1986; 39 years ago (1986)[1]
Headquarters	Terminus 100 Atlanta, Georgia, U.S.
Key people	Ronald F. Clarke (Chairman & CEO)
Revenue	US$3.97 billion (2024)
Operating income	US$1.79 billion (2024)
Net income	US$1.00 billion (2024)
Total assets	US$17.9 billion (2024)
Total equity	US$3.15 billion (2024)
Owner	Ronald F. Clarke (4.58%)
Number of employees	11,200 (2024)
Subsidiaries	Pacific Pride
Website	corpay.com
Footnotes / references [2]

History

The predecessor of the company was founded in 1986.^[1]

In August 2000, Ronald F. Clarke was named CEO; at that time, the company was a provider of fuel cards to businesses and its estimated annual revenues were $25 million.^[3]

In November 2019, the company moved its headquarters to Terminus 100.^[4]

In October 2023, due to the Russian invasion of Ukraine, the company sold its businesses in Russia for $197 million; it had been criticized for not selling the interests earlier.^[5][6][7][8]

In 2019, the Federal Trade Commission sued the company for obscuring fees and misleading consumers about fuel card discounts; in 2023 it received an injunction against the company preventing it from continuing the practice.^[9]

In March 2024, the company changed its name to Corpay.^[8]

Financing

In June 2002, Summit Partners invested $45 million in the company.^[10]

In July 2005, Bain Capital invested $75 million in the company.^[11]

In November 2006, Advent invested $46 million in the company.^[12]

In December 2010, Fleetcor became a public company via an initial public offering, raising $335 million.^[13]

Contract wins

#	Year	Company	Notes	Ref(s).
1	August 2004	Citgo		[14]
2	2005	BP		[15]
3	September 2007	Chevron Corporation	Lost the contract to WEX Inc. in 2016	[16][17]
4	February 2011	Shell plc Europe/Asia	In partnership with Logical; €300 million	[18]
5	July 2013	Husky Energy		[19]
6	August 2016	Speedway		[20]

Acquisitions

#	Year	Company	Price	Description	Ref(s).
1	September 2003	Commercial Fueling Network (CFN)			[21]
2	October 2004	Mannatec			[22]
3	September 2006	KeyFuels		Fuel-card operator in the United Kingdom	[23]
4	October 2006	CCS		Fuel-card operator in the Czech Republic	[23][24]
5	April 2007	Fambo UK Limited	$34.3 million	Fuel card company based in the United Kingdom	[25]
6	March 2008	Abbey Fuelcards	$15 million	One of the leading fuel card resellers in the UK	[26][25]
7	June 2008	ICP International Card Products B.V.	$5.9 million	Payment transaction processing company based in the Netherlands	[25]
8	July 2008	Petrol Plus Region	$49 million	fuel card provider based in Russia	[27]
9	April 2009	CLC Group (Corporate Lodging Consultants)	$169.1 million	Entered the lodging payments business	[25][28]
10	August 2009	ReD (Retail Decisions) Fuel Cards	$62.9 million	Fleet card company based in the United Kingdom	[25][29]
11	December 2011	AllStar Business Solutions	$304 million	Fuel card operator in the United Kingdom	[30]
12	February 2012	Efectivale		Fuel and food payments services company in Mexico	[31][32]
13	July 2012	CTF	$180 million	Fuel payment processing services provider in Brazil	[33]
14	March 2013	GE Capital's Fuel Card Business in Australia			[34]
15	April 2013	CardLink		Fuel card operator in New Zealand	[35][36][37]
16	September 2013	VB Serviços and DB Trans	$300 million	Providers of transportation cards and vouchers in Brazil	[38][39][40]
17	November 2013	Epyx		SaaS system and a network of vehicle repair garages serving fleet operators in the UK	[41]
18	November 2013	NexTraq		US-based provider of telematics; sold in 2017 to Michelin	[42][43]
19	May 2014	Fuel card customer portfolio of Shell plc in Germany			[44]
20	May 2014	Pacific Pride	$50 million		[45]
21	June 2014	Minority investment in Masternaut		European-based provider of telematics solutions	[46]
22	November 2014	Comdata	$3.45 billion	Global provider of fuel cards and workforce payment products to businesses	[47]
22	March 2016	Sem Parar	4.086 billion reais ($1.1 billion)	Largest electronic toll payments firm in Brazil	[48]
23	August 2016	Travelcard		Universal fuel card issuer in the Netherlands	[49]
24	August 2017	Cambridge Global Payments	$690 million	B2B international payments provider	[50]
25	November 2017	Creative Lodging Solutions		Lodging provider to businesses	[51]
26	November 2017	Minority investment in Qui! Group		Italian-based provider of food vouchers	[52]
27	May 2018	Minority investment in P97 Networks		Provider of cloud-based mobile commerce and behavioral marketing products	[53][54]
28	May 2019	Nvoicepay	$255 million	Automated invoicing services for more than 400 customers	[55]
29	July 2019	SOLE Financial		Payroll card provider enabling instant wage access for workers	[56]
30	October 2019	Travelliance		Airline lodging programs	[57]
31	August 2022	Accrualify		Accounts payable software	[58]
32	May 2024	Paymerang	$475 million	Accounts payable automation	[59]
33	July 2025	Alpha Group International	$2.2 billion	British financial services business focused on FX risk management for corporate businesses	[60]