← Embedded Finance Index 2026

Cloudtrucks

“Can a vertical SaaS platform for independent truckers become the operational and financial OS for owner-operators by embedding payments, credit, and compliance into a single carrier platform?”

Founded2019
HQSan Francisco, CA
FoundersTobenna Arodiogbu
Total raised$121.1M+
Latest roundSeries B, 2021
IndustryVertical SaaS / Logistics

The story

Founded in 2019 as a 'business in a box' for trucking owner-operators, CloudTrucks quickly grew into a virtual carrier platform layering embedded finance (factoring, Visa card, fuel card) on top of load-booking software. After raising $115M in 2021 and launching CT Credit and CT Cash in 2022, the company made a strategic retreat in 2023, exiting the factoring business to hand off customers to RTS Financial and doubling down on its Virtual Carrier and Flex subscription products. The embedded finance play shifted from full-stack (card + factoring) to selective (fuel card, credit, instant payments), with Celtic Bank listed as a banking partner.

Last 12 months

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Product timeline

2019

CloudTrucks founded by Tobenna Arodiogbu (formerly of Scotty Labs/DoorDash) as a virtual trucking carrier platform for owner-operators.· pivot

2020

Raised $6.1M seed round led by Craft Ventures; launched core load-booking and business management SaaS for truck owner-operators.· banking

2021

Raised $115M Series B to expand Virtual Carrier platform, add engineering headcount, and deepen broker/shipper integrations.· acquisition

2022

Launched CT Credit (no-fee, no-interest Visa business card) and CT Cash (non-recourse factoring) as embedded fintech offerings for Virtual Carrier drivers.· card

2023

Exited factoring business; transitioned CT Cash customers to RTS Financial to refocus on Virtual Carrier and Flex core offerings.· pivot

The stack

2 layers disclosed in Cloudtrucks’s embedded-finance stack

Lending

CT Credit (working capital / credit advance via Visa card)CT Cash (non-recourse invoice factoring — exited 2023)

Sponsor bank

in the full report

Accounting gap: significant

1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.

Cloudtrucks — frequently asked

What bank does Cloudtrucks use?

Cloudtrucks discloses Celtic Bank as its sponsor bank, according to the Embedded Finance Index 2026.

Is Cloudtrucks a bank?

Cloudtrucks does not disclose a bank charter of its own; its banking services are provided through Celtic Bank.

What is Cloudtrucks's embedded finance stack?

The Embedded Finance Index 2026 maps 2 layers in Cloudtrucks's stack: Lending (CT Credit (working capital / credit advance via Visa card) and CT Cash (non-recourse invoice factoring — exited 2023)); Sponsor bank (Celtic Bank).

Who founded Cloudtrucks?

Cloudtrucks was founded by Tobenna Arodiogbu and is founded in 2019, headquartered in San Francisco, CA.

How much funding has Cloudtrucks raised?

Cloudtrucks has raised $121.1M+ in total (latest round: Series B, 2021).

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