As Outgo continues to innovate, carriers can look forward to an all-in-one financial platform that truly meets the demands of modern logistics.
In 2023, Mexico surpassed Canada to become the largest U.S. trading partner.
TriumphPay is in the middle of a rollout of LoadPay, a payment tool aimed at owner-operators.
Freight factoring platform Outgo said a recent $15 million funding round has allowed it to ramp funding speeds to carriers.
In today’s volatile economy, it is vital to choose a factoring partner that can offer the financial support and expertise needed to navigate the complexities of Chapter 11 bankruptcy.
Due to shrinking margins and elevated carrier costs, brokers are using freight factoring services to maintain steady income. Bharath Krishnamoorthy, co-founder and CEO at Denim, discussed the ways Denim can help brokers manage their loads, payments and collections.
Triumph Financial is sticking to its long-term goal of growing TriumphPay Network market share even as earnings sag.
Triumph Financial CEO Aaron Graft talked future opportunities as growth engine TriumphPay flipped to negative EBITDA in the first quarter.
Kimberly Fisk, the new COO of Triumph’s factoring group, sat down for an interview with FreightWaves as she begins the job.
Investment bank Piper Sandler cut its rating on trucking-focused bank Triumph Financial even as it offered praise for the company’s strategy.
Brokers and carriers are still feeling the sting of the ongoing freight recession, and factoring companies can be critical partners during this time.
Love’s plans on adding as many as 2,000 truck parking spots this year, less than in recent years.
TriumphPay came in at positive EBITDA in the fourth quarter, a full year ahead of schedule.
Strong partnerships will be necessary to ensure carriers can keep moving — and keep getting paid — into 2024, allowing for a more measured approach for owner-operators and fleets to manage their cash flow.
A white paper by factoring company OTR Solutions highlights risks it sees from the combination of 3PL bankruptcies and asset-based lending.
Triumph Financial’s earnings saw a tighter EBITDA loss at TriumphPay and a largely flat average invoice price in its transportation factoring business.
Convoy and OTR Solutions have issued a joint statement saying that the situation has been resolved.
TriumphPay dealt with the same weak conditions as other trucking-focused companies in the second quarter, but one key measure was stronger.
Triumph Financial felt the soft freight market like everybody else, but its network of the future did show signs of improvement.
Triumph Financial hit a significant milestone in the business it built from the acquisition of HubTran, but TriumphPay’s EBITDA worsened.
TriumphPay’s Emily Meyers notes that it’s tougher for carriers to predict their cash flow and expenditures while facing such long payment cycles.
Triumph Financial’s shares are cut to a sell level at Wells Fargo on a still lengthy wait for a payoff at TriumphPay.
On a practical level, being dedicated to drivers includes making sure they bring home reliable, predictable paychecks. C5 Expedite has partnered with OTR Solutions to pay drivers on a weekly basis.
Mexican logistics systems are lagging and they need to be improved to capitalize on a great opportunity, Solvento CEO Jaime Tabachnik said at FreightWaves’ F3: Future of Freight Festival.
A week after Apex Capital Corp., and its subsidiary, TCS Fuel, were targeted in a ransomware attack, Apex said Monday that it’s business as usual.
Hundreds of small-business truckers who use CoreFund Capital to factor their accounts receivable are struggling to stay afloat after the company abruptly closed its doors.
Traditional loans or recourse factoring are not the only ways to get carriers paid and build up credit. ComFreight has set out to help brokers grow and solve the problem of contract-heavy, high-stress traditional financing with HaulPay.
TBK Bank division wants to optimize payments and cash-flow management for the freight industry
As part of FreightWaves’ The Future of Supply Chain event, Axle Payments will be demonstrating its payment automation software.
The load board at Truckstop.com remains the core business but integrating it with other operations is seen as providing opportunity.
Summar focuses on helping small carriers with one to 30 trucks sustain and grow their businesses.
Small and midsize factoring companies are able to achieve a competitive advantage, which many previously thought was impossible without millions of dollars of investment.
Zero-percent factoring will be able to provide relationships and data that can be used as a foundation for other trucking support businesses, according to BasicBlock’s CEO.
Triumph’s CEO Graft is not holding back, likening the automated deals to the invention of the telephone in terms of technical significance.
“This is a logical next evolutionary step for EKA to realize its original vision to democratize freight management,” says CEO JJ Singh.
Triumph Bancorp CEO Graft revealed the numbers on the new factoring and brokerage companies that have signed up to the processing platform whose capabilities were bolstered earlier this year with the acquisition of HubTran.
Instapay, a factoring company, and its parent company Flexible Funding are seeking Chapter 11 bankruptcy protection, according to court filings with the U.S. bankruptcy court in Fort Worth, Texas.
With two significant acquisitions in the last year, the major force in factoring embarks on a new path.
The report is for a company that is about to undergo yet another change, with HubTran now in the fold.
Factoring is one of the most important sources of liquidity for small fleets and independents, and it’s undergoing significant consolidation.
The new company already has 10 clients, as it takes the HubTran platform and steers it toward a market that is similar but with key differences.
Also on the podcast: the flat market in diesel of the past few weeks may be disappearing.
As TriumphPay gets set to bring in HubTran, a business with lots of companies may become one with far fewer firms.
The bank’s book of business grew at a pace that far exceeded the additional business that came with its acquisition of Covenant’s factoring operation
Also on this week’s podcast: Conflicting info about the US oil upstream that might actually be in sync.
WHAT THE TRUCK?!? welcomes HubTran’s Josh Asbury to the show. The crew dives into the acquisition with TriumphPay and discusses HubTran’s Lights-Out Processing platform.
TriumphPay is acquiring HubTran to integrate machine-learning capabilities for a fully integrated payments network for its customers.
“Detention is a very sticky subject. … Using [visibility] technology you have the data to determine the legitimacy of that request,” TruckerCloud CEO Sam Powers tells Grace Sharkey during the FreightWaves 3PL Summit.
Concurrent to insolvency discussions, Greensill is considering the sale of its operating business to Apollo Global Management Inc. for $100 million, according to a report.
Fourth-quarter figures at Triumph were impacted by the third-quarter acquisition of Covenant’s factoring business.
Rewarding small fleets for driving safely turns their second-highest fixed cost into a controllable variable expense.
A $4.8 billion run rate for the quarter is expected to be at $7 billion by the end of the year: Triumph Bancorp CEO Graft
At $1,931, it’s up from both the second quarter of this year and Q3 of 2019
Cowen raises price projection for the truckload carrier after its announced third-quarter forecast
Covenant also announces it reached agreement with Triumph over sale of TFS factoring unit
Truckload carrier also sees strong third quarter
CEO Prince says insurance product offering with Aon beginning to gain traction
Sale of TFS hits a dispute over status of more than half the assets in the deal
Graft says on earnings call that by end of June, number of invoices being processed exceeded year-ago levels
Number and average size of invoices purchased both declined from 1Q 2020 and 2Q 2019
TFS being sold for more than $100 million, other considerations
Some shippers and some specific invoices can be chosen for accelerated payments, but not necessarily across the board
Many turn to factoring to ease cash crunches.
The outlook for intermodal freight transportation and what’s going on with driver cash flow and factoring issues will be two of the key topics of discussion on the September 28-29 […]
Digital freight brokers continue to add services in the pursuit of carrier stickiness.
As more signs in the truck freight market point to decreasing demand and excess capacity, brokers are looking for better ways to increase the efficiency of their back-office operations to […]
Cash flow – the life blood of a trucking operation – is under more pressure than ever as shippers continue to push out pay dates to their brokers, giving brokers limited options other than to do the same to their carrier partners.
CEO Eric Meek and COO Danny Williams — who pleaded guilty to securities fraud last week — are no longer with the freight payments company.
Wintrust’s working capital lines of credit leave brokerages with more control than equity raises and have lower cost-of-capital than factoring.
Inside YRC’s fight with IPS Worldwide.
TriumphPay presented its product to a room of 1,000 transportation, technology and finance executives at MarktWaves18 in Dallas, Texas.
Incongruent payment cycles make it hard for low-credit businesses to fund their operations. BAM is a Fintech solution for the world’s oldest method of raising capital, factoring.
35 companies are being spotlighted in Venture Atlanta 2018, double the number of last year. These companies are already successful and making strides in a variety of venture and tech-related firms. Here’s a brief look at 10 of these companies, each of whom had a mere 5 minutes to pitch.
Cashflow Corner presented by TriumphPay …Factoring can be a great way for small businesses, especially trucking companies, to manage their cash flow effectively and not devote valuable time that can be better spent hauling the next load because you are chasing down a late payer.
Cashflow Corner presented by TriumphPay …One of the most costly tasks for small companies is chasing down accounts for payment, which is why many smaller fleets and owner-operators turn to factoring companies.
