Trucking industry payment processor BAM scores $10m investment

Transportation cash management provider BAM has picked up a $10m investment to support growth and innovation.

The investment was led by Millstone Capital Partners, and the capital will be used to increase global sales and product development.

New York-based BAM works with the US trucking industry offers payment processing and working capital loans.

The company was founded in 2014 and helps transportation companies get easy access to capital and technology to book more jobs, helping to reduce days-to-pay, improve credit scores, and build stronger carrier relationships.

BAM CEO Todd Ehrlich said, “BAM has built its business on providing a scalable, cloud-based platform which allows our customers to access both our technology and our capital so they can grow faster.”

A seed investment of $2.6m was made into the company in 2015.

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