Phoenix-based MyCarrier announced Wednesday it has acquired Curant, a digital payments platform for 3PLs and freight forwarders.
With the acquisition, MyCarrier can provide a single platform for shippers to quote, dispatch, track, analyze, audit invoices, resolve variances and pay their carriers, according to a news release.
Los Angeles-based Curant was founded in 2020 by Joe Magee. Terms of the acquisition were not disclosed. Magee will join MyCarrier as part of the transaction.
“With Curant’s founder Joe Magee heading our ongoing initiative, we’re excited to soon offer our customers the last pillar of the shipping journey — seamless payments,” Chris Scheid, co-founder and chief strategy officer of MyCarrier, said in a statement. “This acquisition accelerates our mission to digitize the industry for both the shipper and carrier. By replacing manual processes with automation, we will increase accuracy and provide a single pane of glass to both parties on payment status.”
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Founded in 2017, MyCarrier provides transportation management, booking and quoting software for shippers using LTL services.
Magee will work to integrate Curant’s solution into MyCarrier’s $1.3 billion platform.
“The combination of the two platforms will launch the first purpose-built automated payment solution for LTL shippers and carriers,” he said in a statement.
Trucking companies using the MyCarrier platform could also benefit from the acquisition through faster payment times, improved financial accuracy and optimized operations, officials said.
“This collaboration will automate our payment application process for customers who were previously paying us manually,” Ray Ramu, executive vice president and chief customer officer of LTL carrier Saia, said in a statement. “This will enable our LinkEx TMS customers on MyCarrier to digitally receive invoices and electronically remit payment, driving efficiency and accuracy.”