Today, we are launching Outgo, a revolutionary smart banking solution for trucking carriers.
Outgo is a first-of-its-kind software suite that combines invoice management with a connected debit card that enables a vastly superior real-time cashflow product for trucking carriers, saving them time and money.
Trucking carriers care about two things: finding work and getting paid. The last decade has seen innovation in how carriers find work, but the financial challenges of carriers have largely been left unaddressed, leaving carriers with a patchwork of outdated services that are expensive and clumsy to operate.
That’s why we’ve built Outgo. Now, carriers finally have a smart banking solution that combines invoice processing and management with a connected cash card. This bundle provides a more efficient, real-time cashflow product that has major benefits for carriers.
The Outgo Debit Card enables free factoring on all card purchases. Our customers can simply swipe their Outgo card at any retailer, and the Outgo service will automatically factor just what they need in real time for a 0% factoring rate. For factoring done outside of the Outgo Card, carriers will never pay more than 1.5%. In fact, our on-demand factoring product will often deliver rates of far less than 1.5%.
If this sounds too good to be true, learn how it works at outgo.co
Trucking is a demanding business. High overheads and low margins makes every penny matter. The importance of trucking to our economy is undeniable. All of us at Outgo believe it’s time to put Carriers front and center of a streamlined, modern financial platform. Our goal is to help these small business owners optimize their cashflow, save money, and keep them on the road.
Mike, Ray and I first started working together 14 years ago and went on to start our first company, Familiar. Prior to starting Outgo, we were deep in the trenches at transportation and freight companies including Convoy and Uber. We believe that all great products start with a commitment to our customers and building a world class team. For us the Outgo journey began by speaking with hundreds of carriers to learn first hand about their cash flow needs.
At Outgo, we are driven by a team of passionate builders and operators who are committed to crafting delightful products that put our customer at the center. We’re on a lofty mission, and fortunately, we’ve got some solid people behind us. Neo, PSL Ventures, Bezos Expeditions, and an A+ group of strategic angel investors have invested $3.4 million in our company to supercharge our efforts in this next phase of growth.
Our long-term vision is to offer a full suite of financial products like financing, banking, payments, expenses, accounting and more for the $400B for-hire US freight market. We’re so excited to embark on this journey, starting today.
We’re hiring, so check out our Careers Page and join us!
Marcus, Mike, Ray and the Outgo Team