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Trucksmarter

www.trucksmarter.com link_icon

Market Research Report: TruckSmarter, Inc.



Company Overview



  • Name: TruckSmarter, Inc.

  • Mission: Empower truck drivers’ lives by putting the power in the hands of truck drivers, offering fair and equal access to information, and improving the trucking industry through innovative solutions.

  • Founded: 2021

  • Founders: Daniel Kao (CEO), Paolo Bernasconi (CTO)

  • Key People:

  • Daniel Kao - CEO

  • Paolo Bernasconi - CTO

  • Headquarters: No information is available

  • Number of Employees: No information is available

  • Revenue: No information is available

  • Known For: Providing a one-stop solution for truck drivers and owner-operators. Their platform includes a free load board, fuel discounts, freight factoring, and banking services.


Products



Load Board


  • Description: A free platform for truck drivers to find, search, bid, and book loads.

  • Key Features:

  • 100% free to search, bid, and book

  • Combine multiple load boards in one place

  • Access to 1000s of trusted freight brokers


Fuel Discounts


  • Description: Offers deep discounts on diesel fuel across numerous truck stops in the U.S.

  • Key Features:

  • Save up to $1.50 per gallon, translating to thousands of dollars saved yearly


Freight Factoring


  • Description: Provides fast payments to truck drivers, improving cash flow.

  • Key Features:

  • Rates as low as 2.5%

  • Lightning-fast payouts

  • No hidden fees


Banking Services


  • Description: Banking tailored for truck drivers with benefits such as high-yield savings accounts.

  • Key Features:

  • TruckSmarter Checking with 3.27% APY

  • FDIC-insured funds up to $3,000,000 through Thread Bank

  • The TruckSmarter Visa Debit Card


Recent Developments



Financing & Partnerships


  • July 2024: TruckSmarter raised $50 million in debt financing led by CoVenture which can scale to $100 million. This funding aims to expand its suite of financial services.

  • May 2024: Partnership with Sapp Bros. to offer more fuel discounts and increase fuel volume.

  • May 2024: Integration with AscendTMS for increased access to free load posting.


Product Announcements


  • March 2024: Introduction of instant transfers for cash flow improvements.

  • November 2023: Expansion of TruckSmarter’s Fuel Network to 500+ stops nationwide.

  • October 2023: Launch of TruckSmarter Load Board on desktop platforms.

  • Winter 2024 Roundup: A summary of new features and services launched, including streamlined operational tools for truck drivers.


Industry Recognition


  • February 2023: TruckSmarter was named to the Embedded Fintech 50 by GGV Capital in partnership with Crunchbase.


Summary



TruckSmarter, Inc. continues to innovate and expand its service offerings to empower truck drivers and owner-operators. With recent significant funding and strategic partnerships, the company is poised for continued growth. The suite of driver-first solutions, including a free load board, fuel discounts, freight factoring, and banking services, positions TruckSmarter as a key player in digitizing and streamlining the trucking industry.