FreightRover to launch supply chain financing facility

Thursday 27 September 2018 11:33 CET | News

FreightRover has announced the launch of USD 500 million supply chain financing facility.

FreightRover has partnered with Crayhill Capital Management (Crayhill) and other investors for the new financing facility to support the supply chain and factoring operations conducted by FreightRover’s affiliate, Rover180. Rover180 recently launched as a trade finance company focused on facilitating quick pay financing options for suppliers, with a special emphasis on transportation providers.

Rover180’s supply chain financing and factoring solutions allow buyers to benefit from extended pay terms while providing suppliers with accelerated receivables. Eric Meek, the CEO of FreightRover, mentions that the collaboration will enable FreightRover to fund the myriad of supply chain micro-payments across a highly fragmented supplier group.

FreightRovers software platform directly integrates with existing shipper systems to automate and streamline invoicing and straight-through payment processing.

Transportation One, a Chicago-based logistics company, has recently adopted FreightRover’s technology to bring efficiencies to the freight management process.

Customers such as Berry Global are working with Rover180 to provide vendors with immediate payment options, while maintaining historical financial funding practices.

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Keywords: supply chain finance, FreightRover, Crayhill Capital Management, Rover180, trade finance, B2B, e-invoicing
Countries: World