truckstop.com, a leading freight technology company, announced it has acquired Denim, a transportation-focused financial technology company and factoring service that automates invoicing, reduces time-to-cash, and optimizes back-office processes.
This strategic acquisition helps both carriers and brokers make their freight businesses more secure and easier to manage. By integrating Denim’s innovative financial technologies into truckstop.com’s expansive freight matching and carrier identity solutions, the combined entity will enhance operational stability, improve liquidity, and reduce business risk for carriers and brokers alike. Denim’s investments in AI and automation technology have resulted in best-in-class cost-to-serve and time-to-fund, with 75% of payments processed in under one minute.
truckstop.com‘s non-recourse factoring solution has long been recognized for its transparency, ease of use, and carrier-first approach, offering clear terms and no hidden fees. With the addition of Denim’s recourse factoring product and automation technology, customers now gain access to faster payment options, modernized service, and flexible pricing to fit the way they work.
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“We are incredibly excited to welcome Denim to the truckstop.com family,” said Scott Moscrip, CEO of truckstop.com. “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, commented, “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.”
SOURCE: PRNewswire