Plus: Feds probe fatal Florida crash tied to CDL failures, Trucking recession deeper than 2008 for some, Truckstop.com scoops up Denim for AI payments, and more.
FreightWaves contributor Adam Wingfield argues that trucking remains in a “Great Trucking Recession,” with suppressed rates, bankruptcies, and structural challenges hitting small carriers harder than 2008.
Truckstop.com acquired fintech firm Denim to expand AI-driven invoice automation and faster factoring options for carriers and brokers, aiming to improve cash flow and streamline back-office operations.
Truckstop.com acquired fintech firm Denim to expand AI-driven invoice automation and faster factoring options for carriers and brokers, aiming to improve cash flow and streamline back-office operations.
Truckstop.com announced Tuesday that it has acquired Denim, a transportation-focused financial technology company and factoring service that automates invoicing and accelerates payments for brokers and carriers.
The company stated the acquisition is designed to improve cash flow, streamline back-office operations, and enhance security for freight businesses navigating tight market conditions.
Denim has developed AI-powered automation tools capable of processing 75% of payments in under one minute. Truckstop.com said combining these tools with its freight matching and carrier identity services will allow customers to operate with greater efficiency and financial stability.
Through the integration, customers will also gain access to a broader set of factoring solutions:
The company said this dual offering provides more flexible pricing structures and faster payment options to better fit the needs of different customers.
Scott Moscrip, CEO of Truckstop.com, said the addition of Denim directly supports customer demands for profitability and risk management.
“Carriers and brokers today are demanding tools to help them work more profitably, more efficiently, and more securely. With Denim, we can better deliver across all three of these priorities. We’re excited for our carriers and brokers who will experience improved cash flow, lower operating costs, and reduced risk.”
Bharath Krishnamoorthy, CEO of Denim, emphasized that the acquisition will scale Denim’s innovations to a wider customer base.
“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.”
The acquisition comes as financial technology solutions in freight continue to gain traction. With carriers facing pressure from high operating costs and brokers adapting to tighter margins, faster payment cycles and automation are becoming critical to sustaining operations. Truckstop.com’s move positions it to compete more directly in this evolving intersection of freight and fintech.
Source: FreightWaves
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