Axle is a tech-enabled factoring business focused on the freight transportation sector. It provides small trucking companies and freight brokers with short-term working capital by purchasing their outstanding invoices.
Axle is the only integrated payments, collections, and financing solution for small freight brokers.
Axle was founded in 2017 by Bharath Krishnamoorthy, Shawn Vo, and Michael Sturm. The company is headquartered in New York.
Axle's mission is to provide small brokers and their carriers with efficient and honest working capital to sustain the global logistics industry.
Axle provides a platform focused on factoring, which gives small businesses the cash flow required to pitch, win and service competitive contracts. Features include a fully-online application and on-boarding process, as well as a dashboard to add customers, submit documentation, and track payments.
Axle has raised $1.4M in a Pre-Seed round on Jan 29, 2020. The round was led by Trucks Venture Capital, with participation from Plug and Play Ventures, 37 Angels, Fontinalis Partners, and Techstars.