Denim, a Jersey City, NJ-based a technology factoring partner for freight brokers, raised $63M in Warehouse Facility.
Silicon Valley Bank (SVB) and Trinity Capital Inc., provided the financing.
The company intends to use the funds to continue supporting the cash flow and operational needs of freight brokers.
Led by CEO Bharath Krishnamoorthy, Denim is a tech-powered freight factoring partner advancing the supply chain by accelerating the movement of money and data. The company delivers fast access to the working capital freight brokers need, when they need it. With its factoring solutions, freight brokerages can manage financing options, and monetize working capital.
FinSMEs
31/05/2024