Outgo provides a fintech platform that automates invoicing, broker setups, and collections for carriers, enabling instant access to funds and transparent pricing without annual contracts. By offering low factoring rates and a debit card for immediate spending, the company helps users reduce financing costs and streamline their financial operations.
Funding
$68.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Freight carriers often face challenges with delayed payments, complex invoicing processes, and the need for immediate access to funds, leading to cash flow constraints and operational inefficiencies. Traditional factoring services can be expensive and inflexible, with long-term contracts and hidden fees further eroding profitability.
Solution
Outgo provides a fintech platform designed to streamline financial operations for freight carriers, offering automated invoicing, broker verification, and instant access to funds. The platform eliminates the need for annual contracts and provides transparent pricing, enabling carriers to optimize their cash flow and reduce financing costs. With features like smart factoring, which improves rates over time, and the Outgo debit card for immediate spending, Outgo empowers carriers to manage their finances more efficiently and improve their bottom line.
Target Audience
Outgo primarily targets owner-operators, fleets, and brokers in the freight and trucking industry seeking to optimize their cash flow, automate financial processes, and reduce factoring costs.
Features
- Automated invoicing: Simplifies and accelerates the invoicing process by handling invoice generation and submission.
- Broker verification: Provides insights into broker risk ratings and contact information to facilitate informed business decisions.
- Smart factoring: Offers dynamically improving factoring rates, rewarding carriers who wait longer to factor.
- Outgo debit card: Enables instant access to funds and lowers factoring rates to 1.0% on purchases made with the card.
- Rate Match Guarantee: Ensures carriers receive competitive factoring rates by matching or beating existing offers.
- No annual contracts: Provides flexibility and avoids long-term commitments.
- Transparent pricing: Eliminates hidden fees and ensures clear understanding of costs.