TruckSmarter raises $50 million in debt financing led by CoVenture to expand financial services for truck drivers

Jul 15, 2024•over 1 year ago

Amount Raised

$50 Million

San FranciscoLogisticsTransportationFinancial Services

Investors

Co Venture

Description

TruckSmarter, a digital platform for trucking industry, closed a $50 million debt facility, with the option to scale to $100 million, led by CoVenture. The financing will enable the company to expand its suite of financial services to make drivers' lives easier and further empower them to build, manage, and grow their businesses.

Company Information

Company

TruckSmarter

Location

San Francisco, California, United States

About

TruckSmarter is a digital platform designed to assist owner-operators and trucking companies in optimizing their operations. It offers a suite of financial services and tools to help drivers earn more and manage their businesses. TruckSmarter serves as a one-stop shop for truck drivers, providing access to a free load board, transparent freight factoring, fuel discounts, and banking services.

Related People

2 contacts

Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Tech investment trends