BOISE, Idaho — Truckstop.com is announcing its acquisition of Denim, a transportation-focused financial technology company and factoring service.
“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.”
Providing More Security for Freight Businesses
According to a company media release, the 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,” Truckstop said. “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.”
A Huge Win for Carriers and Brokers
“Joining forces with truckstop.com is a huge win for carriers and brokers,” said Bharath Krishnamoorthy, CEO of Denim. “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.”
For owner-operators, Denim enhances truckstop.com’s existing factoring offering with faster payments, access to back-office automation tools designed for growing carriers, more flexible pricing, and customer service powered by advanced, modern technology, according to the release,
Denim’s recourse factoring product and back-office automation platform also expands truckstop.com’s ability to serve fleets and brokerages with cash flow solutions and advanced back-office automation, bringing cost and time savings to even more customers.
Performance Trust Capital Partners, LLC served as exclusive financial advisor to Denim, and Morrison & Foerster LLP served as legal advisor.
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
