Ultragas

What Ultragas does

Ultragas, operating commercially as UltraGas Control Card, is a Mexican B2B fleet fuel management platform founded in 2006 and headquartered in Mexico City. The company enables fleet operators to control and fiscalize vehicle fuel purchases through an RFID-based Control Card accepted at a nationwide network of affiliated gas stations, currently spanning 2,153 stations across all 32 Mexican states and 450+ cities and processing 18,000+ daily transactions. The platform is composed of three products: the RFID Control Card assigned to each vehicle or driver, a web-based administration portal for configuring spending limits, fuel-type restrictions, and usage schedules, and a mobile application for remote card management and real-time transaction monitoring.

Under the hood, the system validates transactions in real time and deducts amounts from pre-loaded fleet balances, while a REST API enables ERP synchronization with SAP and Oracle systems alongside Excel, CSV, and XML report exports. A central piece of the value proposition is the SAT-compliant CFDI invoicing with a "complemento de estado de cuenta de combustibles" (fuel account statement complement), which consolidates all loads across stations into a single monthly electronic invoice and enables 100% fuel tax deductibility for the customer under Mexican tax law, with DIOT-compatible VAT reporting.

The business model is a transaction-fee intermediary structure: fleet companies load funds into an UltraGas wallet, drivers use the Control Card at affiliated stations, and UltraGas charges a commission on each load. The go-to-market is sales-led for enterprise accounts (with specialist-led implementation in 3-5 business days) and self-serve via the portal and mobile app for SMB customers. The company serves 6,000+ active clients across enterprise fleet operators and small businesses with as few as three vehicles. The firm is privately held with 11-50 employees, no disclosed institutional investors, no disclosed funding rounds, and no disclosed leadership team.

Name

Ultragas

Legal name

UltraGas Control Card

Website

https://ultragas.com.mx

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Ultragas operates a Mexico-wide B2B fleet fuel management platform providing RFID-based Control Cards accepted at 2,153 affiliated gas stations across 32 states. It enables enterprise and SMB fleet operators to consolidate fuel purchases, monitor spending in real time, and achieve 100% SAT tax deductibility via consolidated CFDI invoicing.

Ownership category

akta.pro rank

Product category

Fleet Fuel Management

NAICS

Fuel Dealers (45721)

SIC

Retail-Auto Dealers & Gasoline Stations (5500)

akta.pro primary industry

Fuel Card & Fleet Payment Programs (TLABAMAA)

akta.pro secondary industries

Fuel Management & Fleet Card Programs (THADAKAH), Fleet Fuel & Energy Management (Fuel Programs, EV Charging Ops) (TLABAIAI), Commercial & Fleet Fueling (Cardlock, On-Site Tanks, Bulk Delivery) (EUALAIAD)

Keywords

• Fleet fuel management
• Fuel card services
• RFID fuel control
• Fleet payment solutions
• Fuel expense tracking

Headquarters

HQ city

Monterrey

HQ country

Mexico

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Fleet Fuel Card Services: Platform fee or transaction fee model where UltraGas acts as intermediary between fleet companies and gas stations. Companies load funds onto the UltraGas wallet and use the Control Card at affiliated stations. UltraGas provides consolidated invoicing (CFDI) with detailed fuel consumption statements.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

UltraGas provides an RFID-based fuel control card that allows fleet operators in Mexico to authorize, monitor, and reconcile vehicle refueling at affiliated gas stations. The card works in conjunction with a cloud-hosted web portal and a mobile application that deliver real-time consumption data, driver and vehicle tracking, and reporting for fleet managers.

Product overview

UltraGas is a unified fleet fuel management platform consisting of the Control Card (RFID card), a Web Portal, and a Mobile App. The Control Card is assigned to each vehicle or driver and enables cashless fuel purchases at over 2,000 affiliated stations. The Web Portal and Mobile App provide administrative control for setting spending limits, fuel type restrictions, usage schedules, and real-time transaction monitoring. Fiscal invoicing is consolidated into a single monthly CFDI with state account complement for 100% SAT deductibility.

Differentiator

Problem solved

Functional benefit

Products and services

• UltraGas Control Card RFID fuel control card issued to fleet operators that authorizes refueling only at affiliated gas stations and only for registered vehicles and drivers, providing auditable consumption data for fleet managers in Mexico.
• UltraGas Web Portal Cloud-hosted web portal that allows fleet administrators to manage cards, vehicles, drivers, and consumption limits and to view real-time refueling transactions and reports.
• UltraGas Mobile Application Mobile application available on iOS and Android that gives fleet managers and drivers access to UltraGas account information, transactions, and reporting on the go.

Quantifiable outcome

• 100% tax deductible fuel consumption with proper CFDI documentation
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Scale indicators7 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• BBVA Bancomer Tarjeta Empresarial Combustible: Mexican bank issuing fuel-control cards and corporate-expense products to fleets; comparable to UltraGas on product type, customer segment and Mexican fiscal compliance positioning.
• Repsol Mexico Waylet / Repsol Fleet: Repsol is a major fuel station brand that runs proprietary loyalty/payment apps and fleet programs in Mexico; directly comparable as an integrated station-network-plus-fleet-payment offering in the same geography UltraGas serves.
• WEX Fleet Card: Global fleet fuel-card and payment solutions provider with operations across the Americas; comparable to UltraGas on product (RFID/controls cards), target customer (fleet operators) and revenue model (transaction-based).
• Edenred Mexico: Operates Ticket Fleet and Ticket Car fuel-card programs in Mexico, directly competing with UltraGas in B2B fleet fuel management, expense control and tax-deductible invoicing for corporate vehicles.
• Banorte Tarjeta de Combustible: One of Mexico's largest banks offers proprietary fleet fuel-card products to corporate clients, directly competing with UltraGas for the same enterprise and mid-market fleet fuel-expense wallet.
• Corpay (Comdata) Fleet Card: Comdata, part of Corpay, is a North American fleet fuel card and fleet payment platform with overlapping product features (card-based controls, fuel-only authorizations, ERP integration) and similar B2B fleet go-to-market motion.

Emerging players

• Efectivale: Mexican prepaid business-expense card platform with fleet-fuel and broader employee-expense use cases; relevant comparison as a Mexico-domiciled, card-based fleet/payment wallet competing for the same SMB and mid-market fleet customers as UltraGas.
• Mobato (Logística y Transporte fuel programs): Latin-American fleet-fuel and road-expense management platform; comparable to UltraGas on fleet-card issuance, expense controls and ERP integrations targeting transport-heavy corporate fleets.

Others

• Geotab: Global telematics and connected-vehicle platform whose fleet-management data (vehicle location, fuel consumption) is highly complementary to UltraGas's card-based fuel-expense data, often co-deployed in large enterprise fleets.

Broad incumbents

• Mastercard Move / Fleet Solutions: Mastercard offers commercial and fleet card programs at global scale, including through Mexican issuing partners; comparable as a broad incumbent providing overlapping fleet-payment infrastructure though without UltraGas's Mexican SAT/fiscal specialization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/UltraGasFleetCard
• LinkedInlinkedin.com/company/ultragas-s-a

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ultragas