Denim, a technology factoring partner for freight brokers located in Jersey City, has raised $63 million for a warehouse facility.
The funding was supplied by Trinity Capital Inc. and Silicon Valley Bank (SVB).
The money will be used by the business to keep helping freight brokers with their operational and cash flow needs.
Denim is a tech-enabled freight factoring partner that accelerates the flow of money and data, revolutionizing the supply chain under the leadership of CEO Bharath Krishnamoorthy.
When freight brokers need working finance, the organization provides quick access to it. Freight brokerages are able to monetize working capital and manage finance choices through their factoring solutions.
