Denim
Factoring for freight brokers and trucking companies
- 201-500 employees
- B2B
- Artificial Intelligence
- Enterprise
- Marketplace
- Freight
- Payments
- Financial Services
- SaaS
- Newport, Jersey City, NJ
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Company mission
To reshape freight with innovative technology and exceptional customer support.
16% employee growth in 12 months
Our take
Cash flow problems plague the trucking industry. It's a complicated issue but it would not be unreasonable to attribute a large portion of the blame to the analogue, paper-based systems involved in the industry currently patched over with a high-fee ‘factoring’ service in desperate need of modernization.
That's where Denim (formerly known as Axle) comes in. Denim's proprietary software-based service provides freight brokers and forwarders with affordable working capital and back-office automation, as well as giving them theirs own “QuickPay” service to offer to its trucking company vendors.
With a client base of over 150, the company is making a significant impact and has recently secured substantial funding. With this fresh cash injection, it's set to further strengthen its ability to support the cash flow and operational needs of freight brokers, driving even more growth and success.
Steph
Company Specialist at Welcome to the Jungle
Funding (last 2 of 5 rounds)
Sep 2022
$26m
SERIES B
May 2021
$10m
SERIES A
Total funding: $40.2m
This company has top investors
Leadership
Bharath Krishnamoorthy
(Co-Founder & CEO)A lawyer by training, previously worked as an Associate at Gibson, Dunn & Crutcher.
Shawn Vo
(Co-Founder & CTO)Prior to Axle, they worked as a Financial Technology Consultant for Nfinity. Before that, they held another role in fintech as a full-stack developer for Fintria. Also spent time in the Barclays bank Credit Risk team.