truckstop.com has acquired Denim, a transportation-focused financial technology company specializing in factoring services that automate invoicing and streamline back-office processes.
This acquisition enhances security and management for carriers and brokers by integrating Denim’s innovative financial technologies into truckstop.com’s freight matching and carrier identity solutions. The combination aims to improve operational stability, increase liquidity, and reduce business risks. Denim’s advanced automation processes enable 75% of payments to be processed in under one minute, resulting in significant efficiency.
truckstop.com’s non-recourse factoring solution is known for its transparency and ease of use, with clear terms and no hidden fees. The addition of Denim’s recourse factoring and automation technology will provide customers with faster payment options, modern services, and flexible pricing.
For owner-operators, Denim adds quicker payments and back-office automation tools, enhancing truckstop.com’s offerings. Overall, this acquisition will broaden the range of cash flow solutions and advanced automation services available to fleets and brokerages, leading to improved cost and time savings.
Advisors: Performance Trust Capital Partners served as financial advisor to Denim, and Morrison & Foerster served as legal advisor.
KEY QUOTES:
“We are incredibly excited to welcome Denim to the truckstop.com family. 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.”
Scott Moscrip, CEO of truckstop.com
“Joining forces with truckstop.com is a huge win for carriers and brokers. 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.”
Bharath Krishnamoorthy, CEO of Denim
