FreightRover, a provider of supply chain management and payment solution technology for the transportation industry, closed on a new financing facility of up to $500 million with Crayhill Capital Management and other investors.
The new facility will support the supply chain and factoring operations conducted by FreightRover’s affiliate, Rover180. Rover180 recently launched as a trade finance company focused on facilitating quick pay financing options for suppliers, with a special emphasis on transportation providers.
Rover180’s supply chain financing and factoring solutions allow buyers to benefit from extended pay terms while providing suppliers with accelerated receivables.
“The capital resources provided by Crayhill and other investors, combined with our advanced technology platform, will enable FreightRover to fund the myriad of supply chain micro-payments across a highly fragmented supplier group,” said Eric Meek, CEO of FreightRover. “Traditional supply chain finance offers limited flexibility and often lacks automated efficiencies. Our capital and technology structure uniquely address both challenges for prospective clients.”
FreightRover offers a technology suite designed to streamline supply chain management.
Headquartered in Indianapolis, Rover180 leverages private capital and advanced technology to create flexible funding models that keep cash moving across today’s evolving supply chain.
Crayhill Capital Management is a New York-based alternative asset management firm that specializes in asset-based private credit opportunities.
