Business Journal: Seattle fintech startup acquired by Portland-area freight company
Outgo co-founder and CEO Marcus Womack said the acquisition "will allow us to continue to develop payment innovations at a greater scale."
Outgo co-founder and CEO Marcus Womack said the acquisition "will allow us to continue to develop payment innovations at a greater scale."
Despite recent breakthroughs with China and the United Kingdom, the nation's global trade environment is hostile and forecasts are dim.
The number of posted loads on DAT One jumped to 2.9 million, the highest weekly total for the year and a 28.6% increase compared to the previous week.
Preliminary numbers from ACT Research looking at used Class 8 truck sales show sizable increases in sales in April.
DAT Freight & Analytics, a provider of market trends and data insights for the logistics industry, has acquired a fintech company and factoring service that automates invoice payments and other back-office functions for trucking companies.
DAT Freight & Analytics acquired Seattle-based back-office payment specialist Outgo for an undisclosed sum, the company said May 15.
DAT Freight & Analytics has entered the payments business with its acquisition of Outgo.
A 90-day trade thaw between Washington and Beijing could prove to be a welcome reprieve for the U.S. freight industry, as importers rush to lock in shipments ahead of the busy back-to-school period, experts said.
DAT Freight & Analytics acquired factoring and fintech provider Outgo on Thursday, bringing modern payment infrastructure into the DAT One ecosystem and redefining how freight carriers book and get paid for loads. Terms of the deal were not disclosed.
A 90-day trade thaw between Washington and Beijing could prove to be a welcome reprieve for the U.S. freight industry, as importers rush to lock in shipments ahead of the busy back-to-school period, experts said.