DAT redefines freight payments with Outgo acquisition
BEAVERTON, Ore.--(BUSINESS WIRE)--DAT Freight & Analytics has acquired Outgo Inc., adding fast, transparent payments to the industry's largest freight marketplace.
The acquisition reinforces DAT's commitment to helping freight carriers find the best loads, book them quickly, and get paid almost instantly—all in one place.
Outgo is a financial technology company and factoring service that automates invoice payments and other back-office functions for trucking companies. The acquisition reinforces DAT's commitment to helping freight carriers find the best loads, book them quickly, and get paid almost instantly—all in one place.
'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,' said Jeff Clementz, Chief Executive Officer and President of DAT. 'Outgo sets the industry standard for funding speed, transparency, and flexibility.'
Outgo automates broker setup, invoicing, factoring, and collections without long-term contracts or minimums. It commits to settling approved unpaid invoices within four hours, with many processed in as little as 15 to 90 minutes.
Going forward, carriers on DAT One will have access to Outgo's AI-powered payment services. Any load posted to the DAT network with a blue checkmark is eligible for factoring, so carriers can feel assured that they'll get paid quickly.
'Acquiring Outgo paves the way for DAT to embed payments and financial services into our DAT One freight platform,' Clementz said. '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," said Marcus Womack, Chief Executive Officer 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.'
Outgo was launched in 2022 by senior leaders from transportation technology companies, including Uber and Convoy. Outgo will operate from its Seattle office as a distinct service within DAT, with Womack joining the DAT executive team.
Outgo will continue to provide customer support through multiple channels, with user-friendly tools both on the web and on its app.
'By combining the Outgo team's deep payments expertise with DAT's award-winning customer support and freight match knowledge, customers can get the support they need to find work and get paid, all in one platform,' Womack said.
For more information about DAT One and factoring with Outgo, visit Outgo.com/dat.
About Outgo
Outgo is a modern payments platform for freight. Outgo has rebuilt factoring to put the carrier first, and bundles banking and factoring to make funds instantly available. Founded by former executives at top transportation companies, the company was launched in 2022 and is headquartered in Seattle. To learn more, visit outgo.com.
Outgo is a financial technology company and not a bank. Banking services provided by TransPecos Banks, SSB, Members FDIC.
About DAT Freight & Analytics
DAT Freight & Analytics operates DAT One, North America's largest truckload freight marketplace; DAT iQ, the industry's leading freight data analytics service; and Trucker Tools, the leader in load visibility. Shippers, transportation brokers, carriers, news organizations, and industry analysts rely on DAT for market trends and data insights, informed by nearly 700,000 daily load posts and a database exceeding $1 trillion in freight market transactions.
Founded in 1978, DAT is a business unit of Roper Technologies (Nasdaq: ROP), a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. Headquartered in Beaverton, Oregon, DAT continues to set the standard for innovation in the trucking and logistics industry. Visit dat.com for more information.
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