RoadSync Raises $5.7 Million in Series A Funding
RoadSync, a digital payment platform for the freight and transportation industry, raised $5.7 million in a Series A financing led by Base10 Partners.
Hyde Park Venture Partners and Companyon Ventures also participated in the funding.
Atlanta-based RoadSync said its platform is designed to reduce payment processing time and improve revenue collection for truckers and motor carriers. It also can be used by warehouse operators and vehicle repair and towing services.
One feature of the app allows for contactless payments for truck drivers, which RoadSync said is a benefit during the current coronavirus pandemic and helps workers to practice social distancing.
“Our Series A funding round was in place before the coronavirus pandemic hit, but we do think the timing couldn’t be better to raise the profile of solutions for logistics professionals,” said Robin Gregg, CEO of RoadSync.
The contactless system allows users to create quick invoices as part of its remote checkout. Users also can accept credit card processing, receive direct payments and view real-time payment status, the company said.
The platform already is in use at more than 400 locations nationwide — with more than 50,000 unique transactions monthly, RoadSync said. – Transport Topics