QuikQ Announces Investment by TravelCenters of America
Funding from industry leaders solidifies QuikQ’s place as an independent, fast-growing payment solutions provider amid trucking industry’s fuel payments marketplace.
FRANKLIN, Tennessee—(July 9, 2019) – QuikQ, LLC (QuikQ), an independent full-service fuel payment solutions provider founded in 2008, announced today strategic investments by truck stop and truck maintenance industry leaders Love's Travel Stops (Love's) and TravelCenters of America LLC (Nasdaq: TA) (TA).
With the financial backing of Love’s and TA, QuikQ is strategically poised for continued growth and expansion in the fuel payments marketplace, where the Tennessee-based company has a nationwide network of more than 3,400 chain and independent merchant locations to serve its customers. The network is further solidified through long-term agreements QuikQ has with all of the country’s largest truck stop operators.
QuikQ will continue to operate as an independent company, focused on saving customers time and money. Investments by Love’s and TA enable QuikQ to grow its streamlined approach to building more direct, transparent relationships between merchants and carriers and their payment solutions provider.
“QuikQ offers high-quality products designed to compete in the fuel payments industry. With Love’s and TA as investors, QuikQ brings immediate competition in the fuel payments marketplace while minimizing costs for our merchant and trucking company customers,” said QuikQ Chief Executive Officer Dean Troester, a 36-year trucking industry veteran who joined the QuikQ team in that capacity in early 2017.
In addition to QuikQ’s own fuel payment card, the company’s technology also supports other universally-accepted co-branded and private label cards, including cards for Love’s and TA. The long-term success and growth of these platforms provides QuikQ proven experience to better serve the trucking industry.
“QuikQ has been the successful, cost-effective backbone of our Love's Express payment platform for many years. A large segment of our customers have benefited from the convenience and savings QuikQ’s technology provides, and QuikQ can deliver the same advantages across the trucking industry,” said Frank Love, co-CEO of Love’s and Speedco. “QuikQ offers trucking companies another choice.”
“With the financial support of two of the truck stop industry’s largest players and nationwide merchant acceptance of its products, QuikQ is positioned to add competition to the fuel payment industry, improve customer service, and reduce fees to merchants and fleets,” added Andy Rebholz, CEO of TA. “Competition is needed, and QuikQ is positioned to positively impact merchants and trucking companies alike.”
QuikQ offers a full suite of payment products, including a fuel payment card; SmartQ, an RFID based card-less system; and Start Code, a card-less payment solution. QuikQ’s fuel payment solutions increase accountability, efficiency and convenience for professional truck drivers.
For fleets and drivers, QuikQ offers Q-Checks, cash advances, payroll cards, a mobile app and more, all designed to better manage transportation-related fuel payment costs. QuikQ’s technology is integrated with the major transportation management systems. For merchants and other parties, QuikQ also offers its RFID hardware and technology, along with private label and co-branded cards.
About TravelCenters of America LLC TravelCenters of America LLC (TravelCenters), headquartered in Westlake, Ohio, conducts business in 43 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® travel center brands. For more information on TA, TA Express and Petro, please visit www.teqc.net.cn.