RoadSync, an innovative digital payment platform that dramatically reduces payment processing time and maximizes revenue collection for the transportation industry, announced today it has raised a $5.7M Series A led by Base10 Partners with participation from repeat investor Hyde Park Venture Partners and Companyon Ventures. RoadSync plans to use the funding to accelerate sales growth and broaden the financial products they provide to their customers.
RoadSync’s cloud-based software allows businesses to move away from paper to quickly invoice and accept payments in real-time from truck drivers, carriers, and brokers. Their platform is in use at over 400 locations nationwide – with over 50,000 unique transactions monthly, RoadSync is bringing a more consumer-like payment experience to the industry. Users can create quick invoices, enable remote checkout, move away from paper checks entirely, verify fleet checks in seconds, accept credit card processing, receive direct payments and view real-time payment status.
“RoadSync is providing a truly transformative solution for the transportation industry,” said TJ Nahigian, founding partner at Base10 Partners. “We have been immensely impressed with Robin’s expertise and leadership and look forward to their continued success and growth.”
RoadSync is a leader in providing a simpler and more efficient way to navigate payments. Users spend less time authorizing fleet checks by phone, and the flexible platform allows users multiple options to speed up payment and collection. Last year, RoadSync announced $100 million in payments processed since its 2017 platform launch.
“Robin has built a streamlined and effective way for businesses to manage payments,” said Jackie DiMonte, vice president at Hyde Park Venture Partners. “She has built an efficient way to navigate payments while introducing a complete paradigm shift within a long-standing and respected industry. We are excited to continue our partnership with the team as they scale.”
Robin Gregg, CEO, is a well-respected industry veteran in consumer and commercial payments and financial solutions like Capital One, Revolution Money including the last seven years on the senior management team of Fleetcor, a $25B public company providing fleet cards to the transportation industry.
“Our mission is to modernize payments for the transportation industry by enabling our users with a sophisticated digital solution to send and receive payments,” said Robin Gregg, CEO of RoadSync. “There is an opportunity to have a real impact on the logistics industry that is the backbone of our economy. The entire $700 billion domestic transportation industry needs and deserves better financial products.”
About RoadSync
RoadSync is the digital payment platform for the logistics industry. By removing paper and phone calls from business transactions, RoadSync offers a fast, convenient, and secure way to move and manage money and conduct business throughout the industry, dramatically reducing payment processing time and maximizing revenue collection. RoadSync has processed more than $100 million in payments for warehouses, trucks/carriers, and repair/tow merchants since 2017. www.roadsync.com
About Base10 Partners
Base10 is an early stage venture firm investing in Automation for the Real Economy. Founded by Adeyemi Ajao and TJ Nahigian, the firm focuses on automation impacting many sectors of the Real Economy including transportation, hardware manufacturing, logistics, and construction. Notable portfolio investments include The Pill Club, Shipwell, Made Renovation, and Mason. Headquartered in San Francisco, Base10 currently has $137M in assets under management. Connect via https://base10.vc and @Base10Partners
