A freight-factoring startup a day keeps the FOMO away.
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Startup of the Year: Daily Dealflow 

The Daily Dealflow newsletter delivers one startup to your inbox every work day and is presented by Silicon Valley Bank. SVB's 2019 Startup Outlook Report is out now.
 
Startup of the Year discovers and supports the most promising and innovative startups from around the world through #DailyDealflow, #SOTYPodcast, and more.
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Axle 

Axle is the only integrated payments, collections, and financing solution for small freight brokers.
Axle helps small freight brokers pay their carriers on time by purchasing their accounts receivable at a discount. Factoring is a highly fragmented, $100B+ industry, but traditional factors typically shy away from servicing small freight brokers because they have higher risk profiles and introduce more operational overhead. Axle, however, is able to profitably service this segment by using software to automate our operations and introducing more sophisticated risk management technology.

What's Innovative About Their Solution?

Axle is undercutting prices, while extending credit to under-serviced customer segments, by building software to automate our operations, using a more sophisticated underwriting approach that incorporates non-traditional data sources, and implementing a data-driven fraud detection system.

LinkedIn

📍 Location

New York, NY

⚙️ Product Stage

First Full Release

🏭 Industries

B2B, FinTech, Logistics

🤑 Fundraising Status

Prefer not to say

💸 Total Funding To Date

$500k-$1.5MM

🙌 Founder Demographics

Minority founder

Big Wins

  • Just pivoted into the space a month ago and signed first customer two weeks ago. 
  • Expected annual contract value = $100K

Contact the Founder:

Bharath Krishnamoorthy

[email protected]

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2019 Startup Outlook Report
SVB is pleased to present the 10th edition of our annual Startup Outlook Report, focusing on the innovation economies of the US, the UK, China and Canada. Read the report here.
 
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