DAT Freight & Analytics acquired Outgo Inc., adding fast, transparent payments to the industry’s largest freight marketplace.
“Cash flow is the lifeblood of small carriers, and at the heart of any great high-trust marketplace is the payment connection between the buyer and seller,” says Jeff Clementz, CEO and president of DAT. “Outgo sets the industry standard for funding speed, transparency, and flexibility.”
Key takeaways:
Outgo is a financial technology company and factoring service that automates invoice payments and other back-office functions for trucking companies.
Outgo automates broker setup, invoicing, factoring, and collections without long-term contracts or minimums.
Going forward, carriers on DAT One will have access to Outgo’s AI-powered payment services.
Outgo will operate from its Seattle office as a distinct service within DAT. Marcus Womack, CEO and co-founder of Outgo, will join the DAT team.
“Acquiring Outgo paves the way for DAT to embed payments and financial services into our DAT One freight platform,” Clementz says. “We can bring more value to our customers and build on our position as the industry’s most trusted marketplace by offering a smarter, faster path to payment that’s fully integrated into the customer’s workflow.”
“We're relentlessly focused on transforming how carriers get paid so it's faster, more flexible, and puts them in control of their finances," says Marcus Womack, CEO and co-founder of Outgo. “Joining a company with the reputation and trust that DAT has earned will allow us to continue to develop payment innovations at a greater scale for the benefit of both carriers and brokers.”
