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.
With the onboarding of Outgo Inc., DAT adds a payment function to its freight marketplace, which helps carriers find and book loads – and now gets them paid almost instantly.
“Cash flow is the lifeblood of small carriers, and at the heart of any great high-trust marketplace is the payment connection between the buyer and seller,” said DAT President and CEO Jeff Clementz. “Outgo sets the industry standard for funding speed, transparency, and flexibility.”
Outgo, launched in 2022 by senior leaders from transportation technology companies, including Uber and Convoy, will operate from its Seattle office as a distinct service within DAT.
Outgo automates broker setup, invoicing, factoring and collections without long-term contracts or minimums. It settles approved unpaid invoices within four hours, with many processed in as little as 15 to 90 minutes.
Carriers on the DAT One marketplace will now have access to Outgo’s AI-powered payment services. Any load posted to the DAT network with a blue checkmark is approved for factoring, so carriers can feel assured that they’ll get paid quickly.
“We’re relentlessly focused on transforming how carriers get paid so it’s faster, more flexible, and puts them in control of their finances,” said Marcus Womack, Chief Executive Officer and co-founder of Outgo. “Joining a company with the reputation and trust that DAT has earned will allow us to continue to develop payment innovations at a greater scale for the benefit of both carriers and brokers.”
