Truckstop.com has announced its acquisition of Denim, a financial tech and factoring company it says automates invoicing, reduces time-to-cash and optimizes back-office processes.
The company plans to integrate the technology into its freight matching and carrier identity platforms. Using AI, Denim says it processes 75% of payments in less than a minute.
Truckstop.com customers will gain access to faster payment options, modernized service and flexible pricing, it says.
“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, added, “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.”
