We are excited to announce that Matchstick Ventures Fund III has completed an investment in Maggie’s Refuel. Maggie’s Refuel is a high-end convenience store brand planning to modernize and innovate the current gas station experience.

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Every day, 40 million Americans fill up their vehicles with gas. But despite the large market and high frequency of use, there has been little to no innovation or modernization around the sales process or customer experience for decades. Gas stations continue to sell unhealthy and unappetizing products in unappealing environments. 

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Other countries, however, mainly in Europe, have innovated around gas station experiences. Italy’s Autogrill, for example, offers a high-end experience with healthy and fresh food options, luxury coffee, clean bathrooms, and outdoor seating.

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Alongside the opportunity for innovation in this area, the United States is also experiencing a need for new infrastructure in this industry due to electric vehicles. With the growing need for electric charging stations, where customers will need to wait longer than a typical gas refuel, there is a growing need for nicer amenities and options. Currently, while huge investments are being made in charging infrastructure, there is little investment in the environments surrounding them, leaving chargers often feeling stranded in hotel parking lots or strip malls with no options for a healthy meal, drink, or even a nearby bathroom.

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Maggie’s Refuel is building a modern gas station experience for the millions of Americans who rely on them every day, as well as the growing market of EV chargers. Offering a fresh take on refueling, serving good coffee and fresh food alongside an appealing and clean environment, they anticipate a tech-enabled experience as well, with options for loyalty programs and rewards through their app, pay-by-license plate technology, and more. Maggie’s Reful is rethinking how Americans fill up from the ground up, under the premise that consumers want and deserve better. 

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Alex Canter, Maggie’s Refuel founder who we have backed in the past, has always impressed us with his ability to think big and go after new and exciting consumer experiences. While his last company didn’t have a successful exit, we believe he has learned a lot of lessons and is poised to do well as a second-time founder. In addition to his own experience, his family also has a long history of hospitality experience in the Los Angeles, CA area, and he has built a strong founding team around him. We are excited to be investing in him again and look forward to helping him build a modern experience for refueling in the United States. 

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