There’s never been a more challenging time to be doing business, especially for the logistics industry – the RoadSync customer. We build digital payment solutions for this market – the same people working hard to keep our grocery stores stocked and delivering much-needed medical equipment around the country.
This is a hard time for many and it feels a little uncomfortable to be celebrating the success of hard work put in pre-coronavirus – but I’m proud to announce that we closed our $5.7 million Series A round led by Base 10.
What we do every day feels more meaningful than ever. The RoadSync team is hard at work building solutions for a $700 billion market that needs and deserves great financial products, now more than ever. Paper payments are inefficient, that’s obvious, but more importantly processing paper transactions requires a level of social engagement that may be unsafe.
The RoadSync user is the backbone of our economy. They run food distribution centers, warehouses where our daily goods are stored and managed, and keep thousands of trucks on the road. Logistics is complicated, and one tool most of these businesses don’t have is a purpose-built, easy-to-use, and contactless digital financial solution. A digital solution means no more running to the bank to cash checks, waiting for money to arrive, having to depend on factoring to make ends meet, or being unsure about where lost revenue is going. Now, more than ever, these digital solutions are more important as they can be a part of keeping our logistics customers safe.
Closing our Series A means we have the capital to grow and serve even more customers with the safe, purpose-built, solutions they deserve. Our team comes from a diverse set of backgrounds but at our core we enjoy solving complex challenges for the supply chain industry. If this is interesting to you, the next step in your career might be at a tight-knit, charismatic, and fast-paced startup changing a massive economy, apply to join us.
Our users deserve a meaningful commitment to their industry and we are grateful for the participation of investment groups including Hyde Park Venture Partners and Companyon Ventures who support us. I am confident that in 2020, with the help of our investors and evolving team, we will help keep our logistics customers safe and deliver high-quality payment solutions for our ever-growing client base.