Truckstop.com Acquires Denim for Freight Factoring

Freight technology company truckstop.com has acquired transportation-focused FinTech company Denim to enhance the factoring offering, cash flow solutions and back-office automation it provides to companies in the freight industry.

Truckstop.com will integrate Denim’s financial technologies into its freight matching and carrier identity solutions to help fleets and brokerages save time and money, the companies said in a Tuesday (Aug. 19) press release.

The company will also add Denim’s recourse factoring product to truckstop.com’s non-recourse factoring solution, enhancing its factoring offering for owner-operators, according to the release.

“Carriers and brokers today are demanding tools to help them work more profitably, more efficiently and more securely,” truckstop.com CEO Scott Moscrip said in the release. “With Denim, we can better deliver across all three of these priorities.”

Denim CEO Bharath Krishnamoorthy said in the release: “We innovated a best-in-class tool for enabling faster payments and automating complex financial processes, and we’re excited to be able to bring this value to the industry at scale.”

Denim was founded in 2019 as Axle Payments and was known by that name before rebranding in September 2022. At that time, the freight and logistics financial enablement platform raised $126 million in a Series B funding round.

In June 2024, Krishnamoorthy told PYMNTS CEO Karen Webster in an interview that while many factoring companies have an “all or nothing” invoice model, Denim offers a range of financing and payment processes to freight brokers and allows them to choose which invoices they want to factor and when the carrier’s advance is going to go out, right down to the day.

“That level of control is very valuable,” Krishnamoorthy said.

As for truckstop.com, it launched a new feature called Truckstop Private Loads in July, saying this allows freight brokers to efficiently engage their proprietary, pre-vetted carrier networks with the same benefits available on truckstop.com’s public load board.

“By bringing private and public loads together, we’re not just adding a feature; we’re delivering a critical solution that enhances trust, boosts efficiency and drives profitability for everyone in the freight ecosystem, right when they need it most,” Moscrip said at the time in a press release.

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