DAT acquires Outgo, enters race to become dominant freight exchange platform
DAT isn't merely expanding its portfolio; it's restructuring how transactions flow through the freight marketplace. The logistics world has historically dealt with payment delays that could stretch for weeks. With Outgo's technology now embedded in DAT One, carriers can get paid within hours, sometimes in as little as 15 minutes, according to a news release, which added that this brings a level of liquidity that's vital for small carriers and owner-operators whose businesses run on thin margins.
Founded in 2022 by former Uber and Convoy technologists, Outgo has focused its efforts on disrupting freight finance by bundling banking, factoring and payment services into a single platform. Its 'fractional factoring' model gives carriers more control, allowing them to factor only what they need, when they need it, compared to the traditional carrier-factoring relationship that required long-term contracts or minimums.
'We're relentlessly focused on transforming how carriers get paid so it's faster, more flexible, and puts them in control of their finances. … 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,' said CEO and co-founder of Outgo Marcus Womack, in the release.According to DAT CEO Jeff Clementz, the integration of Outgo reflects the company's broader ambition: to create a smarter, more connected logistics marketplace where load matching, compliance, visibility and now payments live under one roof.
Brokers that meet Outgo's qualification standards receive a 'blue check,' signaling their loads are eligible for near-instant payment processing – a small badge with big implications for carrier trust and load prioritization.
The implications go beyond efficiency. In a landscape increasingly vulnerable to fraud, delayed payments and identity theft, embedding secure, real-time payments within a trusted network enhances not only speed but also security. DAT has already invested in carrier vetting tools and authentication layers like its Carrier Management Suite and Trucker Tools acquisition; Outgo rounds out the stack of security improvements the company is focused on.
This move also expands the already growing market in freight fintech. Triumph Financial has similarly been focused on leveraging its legacy fintech solutions to bring more value to its shipper, broker and carrier customers. The company recently acquired Isometric Technologies and Greenscreens.ai to build its own freight intelligence and payments ecosystem. It already dominates a large share of freight brokerage payments and is rumored to be looking to enter load matching, a space historically ruled by DAT.For freight carriers and brokers, the stakes are high. DAT is positioning itself not just as a load board, but as the freight industry's central exchange.
Disclosure: Craig Fuller, founder and CEO of FreightWaves, is an investor in Outgo.
Articles by Grace Sharkey
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Is English proficiency enforcement the right focus for safer roads?The post DAT acquires Outgo, enters race to become dominant freight exchange platform appeared first on FreightWaves.
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