Article · Wikipedia archive · Last revised Jul 23, 2026

Corpay

Corpay, Inc., 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.

Last revised
Jul 23, 2026
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Wikipedia ↗
Corpay, Inc.
TypePublic
IndustryFinancial data services
Founded1986 (1986)1
HeadquartersTerminus 100
Atlanta, Georgia, U.S.,
Key people
Ronald F. Clarke
(Chairman & CEO)
RevenueIncrease US$3.97 billion (2024)
Increase US$1.79 billion (2024)
Increase US$1.00 billion (2024)
Total assetsIncrease US$17.9 billion (2024)
Total equityDecrease US$3.15 billion (2024)
OwnerRonald F. Clarke (4.58%)
Number of employees
11,200 (2024)
SubsidiariesPacific Pride
Websitecorpay.com
Footnotes
2

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

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.5678

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 1617
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 2324
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 2625
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 2528
10 August 2009 ReD (Retail Decisions) Fuel Cards $62.9 million Fleet card company based in the United Kingdom 2529
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 3132
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 353637
16 September 2013 VB Serviços and DB Trans $300 million Providers of transportation cards and vouchers in Brazil 383940
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 4243
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 5354
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
References

References

  1. "Fleetcor Technologies, Inc. 2019 Annual Report (Form 10-K)". March 2, 2020.
  2. "Corpay, Inc. 2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 27, 2025.
  3. "FleetCor CEO Ron Clarke Turns Winning Career Into A Home Run". Investor's Business Daily. February 20, 2020.
  4. Sams, Douglas (April 3, 2019). "Fleetcor moving HQ from Peachtree Corners to 27-story Buckhead tower". American City Business Journals.
  5. Kanell, Michael E. (August 16, 2023). "Atlanta-based FleetCor says 'nyet' to Russia business, sells interests". The Atlanta Journal-Constitution.
  6. Schilling, Erin (August 15, 2023). "Fleetcor sells Russia business". American City Business Journals.
  7. "FLEETCOR Exits Russia" (Press release). Business Wire. August 15, 2023.
  8. Donastorg, Mirtha (March 8, 2024). "FLEETCOR rebrands to Corpay after string of controversies". The Atlanta Journal-Constitution.
  9. Goggin, Kayla (January 21, 2025). "Corporate payments company challenges FTC injunction at 11th Circuit". Courthouse News Service.
  10. "Atlanta Firm FleetCor Raises $45 Million in New Capital". WRAL-TV. June 4, 2002.
  11. Syre, Steven (July 6, 2005). "Bain invests $75m in Fleetcor". Boston.com.
  12. Rubner, Justin (November 6, 2006). "Fleetcor raises $46M for European expansion". American City Business Journals.
  13. Baldwin, Clare (December 16, 2010). McCormick, Gerald E.; Lewis, Matthew (eds.). "FleetCor shares rise in debut, other IPOs drab". Reuters.
  14. "FleetCor Gets Citgo Fleet Processing Contract". HDT Truckinginfo. August 26, 2004.
  15. "BP Extends Fleetcor Fuel Card Contract". Convenience Store News. September 25, 2008.
  16. "Chevron chooses Fleetcor". Fleet Owner. September 6, 2007.
  17. "How WEX Won Chevron From Fleetcor". Barron's. December 20, 2016.
  18. Roberts, Gareth (February 21, 2011). "Logica and FleetCor Technologies sign €300 million Shell fuelcard deal". Fleet News.
  19. "FleetCor Awarded Canadian Commercial Fleet Card Contract" (Press release). Business Wire. July 23, 2013.
  20. "Speedway, Fleetcor Sign Commercial Fleet Card Contract". CSP Daily News. August 9, 2016.
  21. "Fleetcor and CFN Announce Merger". Automotive Fleet. September 22, 2003.
  22. "FleetCor Announces Acquisition of Mannatec Inc". Automotive Fleet. October 19, 2004.
  23. "FleetCor Acquires Eastern European Fuel Card Company". Automotive Fleet. October 13, 2006.
  24. "Fleetcor further expands European presence by acquiring second European Fuel Card Company". Commercial Fueling Network (Press release). October 11, 2006.
  25. "FINAL PROSPECTUS". U.S. Securities and Exchange Commission. December 14, 2010.
  26. "Abbey Fuelcards is bought out". Fleet News. May 22, 2008.
  27. Wilmoth, Adam (April 26, 2003). "Devon completes $5.3 billion merger with Ocean Energy; More than 98 percent approve companies' deal". The Oklahoman.
  28. Watson, Rip (April 13, 2009). "FleetCor Acquires CLC to Expand Client Services". Transport Topics.
  29. "Fleetcor acquires UK and Ireland fuel card businesses of Retail Decisions". Private equity wire. August 17, 2009.
  30. "FleetCor buys UK fuel card co for $304 mln". Reuters. December 13, 2011.
  31. "FleetCor Technologies, Inc. acquired Efectivale S. de R.L. for $21.8 million". MarketScreener. February 29, 2012.
  32. Clinton, Paul (September 12, 2019). "Fleetcor's Next Steps in Fleet Payments". Automotive Fleet.
  33. "FleetCor Successfully Completes Acquisition of CTF Technologies" (Press release). U.S. Securities and Exchange Commission. July 11, 2012.
  34. "FleetCor Acquires GE Capital's Fuel Card Business in Australia" (Press release). Business Wire. March 26, 2013.
  35. Smith, Rick (April 30, 2013). "FleetCor Buys New Zealand's CardLink". The Motley Fool.
  36. McBeth, Paul (July 11, 2018). "Spencer family sells Cardlink to NYSE-listed FleetCor". National Business Review.
  37. "FleetCor Adds New Zealand's Cardlink to its Portfolio". Automotive Fleet. May 8, 2013.
  38. "FleetCor Announces Acquisitions in Brazil" (Press release). Business Wire. September 11, 2013.
  39. Jones, Kristin (September 10, 2013). "FleetCor to Buy Two Brazilian Companies for $300M". The Wall Street Journal.
  40. Alva, Marilyn (November 1, 2013). "FleetCor Roadmap Looks Far To Fuel Growth In Trucking". Investor's Business Daily.
  41. "FleetCor acquires Epyx". Fleet News. November 1, 2013.
  42. "Fleetcor Acquires NexTraq, A Leading Telematics Provider". Business Wire (Press release). October 30, 2013.
  43. "Michelin to acquire Nextraq, a telematics provider, from Fleetcor". Reuters. June 14, 2017.
  44. Couret, Jacques (May 1, 2014). "Fleetcor expands globally in Shell and Chevron deals". American City Business Journals.
  45. Dyer, Shane (May 1, 2014). "WEX, Inc. Divests of Pacific Pride Services". Fuels Market News.
  46. "Summit Partners and FleetCor Technologies Acquire Masternaut, a European Leader in Telematics". Marketwired (Press release). June 4, 2014.
  47. "FleetCor Completes Acquisition of Comdata" (Press release). U.S. Securities and Exchange Commission. November 17, 2014.
  48. Parra-Bernal, Guillermo; Cascione, Silvio (March 15, 2016). Simon, W (ed.). "FleetCor pays $1.1 billion for Brazil toll payment firm Sem Parar". Reuters.
  49. "Fleetcor Tech says acquires Travelcard". Reuters. August 4, 2016.
  50. "FLEETCOR Closes On Its $690M Buy Of Cambridge Global Payments". pymnts.com. August 10, 2017.
  51. "Fleetcor Technologies acquires Creative Lodging Solutions". Reuters. November 1, 2017.
  52. "Fleetcor Technologies acquires minority stake in QUI! Group". World M&A Alliance. November 15, 2017.
  53. "Fleetcor invests in P97's mobile commerce tech for fuel payments". Industry Dive. May 4, 2018.
  54. "FLEETCOR And P97 Form Strategic Partnership To Accelerate Mobile Payments At Gas Stations". Reuters. May 3, 2018.
  55. Rogoway, Mike (May 13, 2019). "Beaverton financial tech company Nvoicepay was part of $255 million acquisition". The Oregonian.
  56. Baker, Linda (July 9, 2019). "Fleetcor to acquire payroll provider". Freight Waves.
  57. "Holland & Knight Advises FleetCor in Acquisition of Travelliance". Holland & Knight. October 2, 2019.
  58. "FLEETCOR Acquires AP Software Firm Accrualify". pymnts.com. August 3, 2022.
  59. "Aldrich Capital Partners Announces Sale of Paymerang to Corpay" (Press release). PR Newswire. May 8, 2024.
  60. Basil, Arasu Kannagi (July 23, 2025). Majumdar, Shilpi (ed.). "Payments firm Corpay to buy UK's Alpha Group in $2.2 billion private markets push". Reuters.
External links