Denim is a Jersey City, NJ–based technology factoring partner for freight brokers led by CEO Bharath Krishnamoorthy. The company delivers tech-powered factoring solutions that accelerate the movement of money and data across the supply chain and provide fast access to working capital when brokers need it. Its offerings let freight brokerages manage financing options and monetize working capital. Denim raised a $63M warehouse facility to support the cash flow and operational needs of freight brokers. The company intends to use the funds to continue supporting brokers’ cash flow and operational requirements. Denim is a fintech platform for freight brokers that provides financial products, operations tools and automated workflows to streamline broker operations. The company handles broker invoicing, collections and payments and offers access to debt financing; the platform integrates with accounting software like QuickBooks and displays metrics on a dashboard. Denim uses algorithms that review 20 data points per shipment to automate invoice purchase decisions and reduce manual risk evaluation. The company declined to disclose current revenue or customer count but says it has connected more than 7,000 freight brokers, shippers and carriers since launching three years ago. Denim recently raised $126 million in a Series B consisting of $26 million in equity and $100 million in debt to scale the business and provide customers with working capital; it has raised $165 million to date. The company employs 100 full-time staff and plans to reach 120 by year-end; co-founders are Bharath Krishnamoorthy and Shawn Vo.

Total raised

$189M

Funding rounds

3

Latest round

Debt Financing

Latest activity

May 2024