Denim (aka Axle Payments), a NYC-based financial enablement platform for the freight and logistics industry, closed a $126m Series B funding.
The round included $26m in equity financing (led by Pelion Venture Partners, with participation from Crosslink Capital, Anthemis, Trucks VC, FJ Labs, Tribeca Early Stage Partners, and Refashiond Ventures, and $100m in debt financing.) In total, Denim has raised $165m in three years.
The equity funding will enable the company to to continue scaling the team and its platform while debt financing will provide working capital to freight brokerages.
Led by Bharath Krishnamoorthy, chief executive officer, and Shawn Vo, chief technology officer, Denim is a financial enablement platform for the logistics industry that offers an ecosystem of intelligent financial products, operations tools, and time-saving automation. Its proprietary technology enables freight brokers to simplify their financing operations and easily access the working capital they need to grow in the logistics market.
FinSMEs
15/09/2022