Recently, smart composites that serve as multi-functional materials have gained popularity for structural and infrastructural applications yielding condition assessment capabilities. An emerging application is the monitoring and prediction of the fatigue of road infrastructure, where these systems may benefit from the ability to detect and estimate vehicle loads via weigh-in-motion (WIM) sensing without interrupting the traffic flow. However, off-the-shelf applications of WIM can be improved in terms of cost and durability, both on the hardware and software sides. This study proposes a novel multi-functional pavement material that can be utilized as a pavement embedded weigh-in-motion system. The material consists of a composite fabricated using an eco-friendly synthetic binder material called EVIzero, doped with carbon microfiber inclusions. The composite material is piezoresistive and, therefore, has strain-sensing capabilities. Compared to other existing strain-sensing structural materials, it is not affected by polarization and exhibits a more rapid response time. The study evaluates the monitoring capabilities of the novel composite according to the needs of a WIM system. A tailored data acquisition setup with distributed line electrodes is developed for the detection of moving loads. The aim of the paper is to demonstrate the sensing capabilities of the newly proposed composite pavement material and the suitability of the proposed monitoring system for traffic detection and WIM. Results demonstrate that the material is promising in terms of sensing and ready to be implemented in the field for further validation in the real world.