Supply Chain Platform Launches $500 Million Fund


Supply chain funding platform and logisitics technology solution provider FreightRover has launched a financing facility worth US$500 million in a collaboration with asset management firm Crayhill Capital.

The new facility will support the supply chain and factoring operations conducted by FreightRover’s affiliate, Rover180, which was recently launched as an alternative supply chain finance company, with a special emphasis on transportation providers.

Rover180’s supply chain solutions allows buyers to benefit from extended pay terms while providing suppliers with accelerated receivables.

This particularly helps small and medium sized transportation businesses, with it becoming increasingly difficult to manage delayed cash payments.

To find out how data is changing the way supply chain companies work, read a Port Technology technical paper

Rover180’s software platform directly integrates with existing supply chain systems to automate and streamline invoicing and straight-through payment processing.

Speaking about the fund, Eric Meek, CEO of FreightRover, commented: “Traditional supply chain finance offers limited flexibility and often lacks automated efficiencies.

“Our capital and technology structure uniquely address both challenges for prospective clients”.

Josh Eaton, Managing Partner of Crayhill Capital, stated: “Crayhill is excited to partner with FreightRover’s experienced management team to scale its innovative Rover180 platform for transportation supply chain finance.

“We are impressed by FreightRover’s ability to offer value-added technological and management solutions in the transportation industry and are well-positioned to help Rover180 leverage this expertise to bring efficiencies and scale to the supply chain finance markets.”

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