Axle said to raise $1.4m in pre-seed funding

January 30, 2020

Axle, a payments service for small freight brokers, has reportedly secured $1.4m in its pre-seed funding round.

Transportation focused investor Trucks Venture Capital led the round, with participation also coming from 37 Angels, Plug and Play Ventures, Techstars and Fontinalis Partners, according to reports in the media.

This capital infusion will be used to increase the size of the Axle team and to extend its customer base.

Axle is an integrated payments, collections and financing solution for small freight brokers, helping businesses to streamline back office processes and improving cashflow.

A business simple uploads their documents to the online dashboard and Axle will verify the information and send an invoice to the customer. Real-time payment notifications are sent, and accounting software will be updated to ease workflows.