Trucker Path obtains $30 million in debt financing

By Land Line staff | 6/20/2017

Trucking industry app designer Trucker Path has recently announced that it has secured $30 million in debt financing to add InstaPay factoring to the services of its freight marketplace, according to a press release.

Trucker Path encompasses a navigational app used by 550,000 truckers as well as a freight marketplace, Truckloads. Launched in March 2016, Truckloads currently has 100,000 active carriers with more than 3 million monthly loads posted by brokers. InstaPay was introduced in September 2016, allowing carriers to get paid immediately with a one-time flat rate with no hidden fees.

“Carriers often are required to complete tons of paperwork and sign exclusivity, to then wait 30-60 days or longer before getting paid. Trucker Path helps carriers get paid faster with just a few clicks on the mobile app,” said Ivan Tsybaev, CEO and founder of Trucker Path. “We are extremely excited to partner with Flexible Funding as this will enable us to continue our rapid growth and streamline the process of funding for trucking companies.”

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