Denim (formerly Axle Payments)
Denim automates financial operations and provides flexible financing for freight brokers.
Denim is a financial operations platform built specifically for freight brokers, automating invoicing, collections, carrier payments, and providing flexible invoice factoring. Unlike traditional factoring companies with all-or-nothing models, Denim lets brokers choose which invoices to factor and when, while AI-powered algorithms evaluate risk across 20 data points per shipment. The platform integrates with accounting software like QuickBooks and has processed over $2 billion in payments, reducing daily financial operations tasks by 75%.
Problem solved
Freight brokers spend excessive time on manual invoicing, collections, and carrier payments while struggling to access financing that matches their specific cash flow needs.
Target customer
Freight brokers of all sizes who need to automate invoicing, collections, and carrier payments while accessing flexible debt financing.
Founders
B
Bharath Krishnamoorthy
CEO & Co-Founder
Columbia Law School graduate and former M&A lawyer at Gibson, Dunn & Crutcher.
S
Shawn Vo
CTO & Co-Founder
Former credit risk analyst at Barclays and full-stack developer at Fintria; 16-year collaboration with co-founder Krishnamoorthy.
Funding history
Series B
$126M
September 2022
Led by Pelion Venture Partners
· Crosslink Capital, Anthemis, Trucks VC, FJ Labs, Tribeca Early Stage Ventures, Refashioned Ventures
Series C
$63M
May 2024
Led by Unknown
· Unknown
Total raised:
$232.38M
Industries
Pricing
Flat fee per load processed through the platform, covering automation of financial operations, carrier payment financing, and data leverage. Denim Wallet allows self-funded payments with direct disbursement to trucking companies.
Notable customers
Not publicly disclosed specific named customers; facilitated nearly 60,000 jobs valued at $130M in 2022.
Integrations
QuickBooks, Turvo, Tai, EKA, custom TMS integrations via partnership program.
Tech stack
jQuery (JavaScript libraries)
core-js (JavaScript libraries)
HubSpot Chat (Live chat)
Zendesk (Documentation)
LottieFiles
Linkedin Insight Tag (Analytics)
HubSpot Analytics (Analytics)
Microsoft Clarity (Analytics)
Heap (Analytics)
Google Analytics (Analytics)
Facebook Pixel (Analytics)
Google Font API (Font scripts)
Nginx (Web servers)
OpenResty (Web servers)
Varnish (Caching)
Google Workspace (Email)
Google Hosted Libraries (CDN)
HubSpot (Marketing automation)
Microsoft Advertising (Advertising)
Google Tag Manager (Tag managers)
Webflow (Page builders)
Google Remarketing Tag (Retargeting)
Website
Competitors
Outgo
Direct competitor in freight broker financing space with similar invoice factoring focus.
ConData
Competitor offering freight broker financial services with different operational model.
TriumphPay
Carrier payments platform emphasizing network effects for brokers, carriers, shippers, and factors with less customization in invoice selection.
Solvento
Alternative freight financing provider without Denim's flexible invoice selection model.
Why this matters: Denim represents a modernization of the fragmented freight financing market, combining software automation with flexible capital provision in a way traditional factoring companies cannot match. The August 2025 acquisition by Truckstop.com—a major freight logistics platform—signals significant consolidation in the logistics fintech space and positions Denim as infrastructure within a broader ecosystem.
Best for: Growing and established freight brokers who want to eliminate manual financial operations, improve cash flow visibility, and access flexible financing without rigid all-or-nothing factoring terms.
Use cases
Reducing Collections Workload
A mid-size freight broker with 50+ daily invoices can reduce collections and payment processing from 4+ hours daily to under 1 hour using Denim's automated workflows. The platform flags high-risk invoices for manual review while automatically processing 75% of payments in under one minute, freeing operations staff for revenue-generating activities.
Flexible Cash Flow Management
Instead of factoring all invoices at a fixed rate, a broker can choose to factor only specific high-value shipments on demand, accessing capital exactly when needed without unnecessary financing costs. This selective factoring approach is particularly valuable for brokers managing seasonal demand or unexpected cash shortfalls.
Cross-System Financial Visibility
A broker using QuickBooks for accounting and a TMS platform like Turvo can sync financial data automatically through Denim, eliminating manual data entry and creating a single source of truth for invoicing, collections, and payment status across all systems.
Alternatives
TriumphPay
Choose TriumphPay if you prioritize carrier network effects and marketplace participation over flexible invoice-by-invoice financing control.
Traditional Factoring Companies
Choose traditional factoring if you prefer simplicity and established relationships over platform automation and selective invoice factoring.
Outgo
Choose Outgo if you need a lighter-weight financing solution with fewer automation features integrated into your existing workflow.
FAQ
What does Denim do? +
Denim is a financial operations platform for freight brokers that automates invoicing, collections, carrier payments, and provides flexible invoice factoring. The platform uses AI to evaluate shipment risk, integrates with accounting software like QuickBooks, and lets brokers choose which invoices to factor and when, unlike traditional all-or-nothing factoring models.
How much does Denim cost? +
Denim charges a flat fee per load processed. Specific per-load pricing is not publicly disclosed and varies based on broker volume and features. Contact Denim directly for a custom quote.
What are alternatives to Denim? +
Key alternatives include TriumphPay (carrier payments network), traditional freight factoring companies, Outgo (lighter-weight financing), ConData, and Solvento. Each differs in flexibility, automation depth, and pricing model.
Who uses Denim? +
Freight brokers of all sizes use Denim, from small independent operators to larger firms. In 2022 alone, Denim facilitated nearly 60,000 jobs valued at $130M. Specific named customers are not publicly disclosed.
How does Denim compare to TriumphPay? +
Denim focuses on flexible, selective invoice factoring with deep automation of financial operations and risk evaluation. TriumphPay is primarily a carrier payments and settlement network emphasizing marketplace participation. Denim offers more granular financing control; TriumphPay emphasizes network effects and integrated carrier relationships.
Tags
freight
factoring
payments
automation
cash flow
working capital
logistics fintech
broker operations