Outgo
“Can a vertical financial platform for freight carriers — factoring + banking + cards — become the embedded payments layer for the largest trucking marketplace?”
Founded2021
HQSeattle, Washington, United States
Total raised$68.5M
Latest round$15M (announced Sep 2024)
IndustryVertical SaaS / Freight & Trucking
The story
Outgo was founded in 2021 by Uber/Convoy veterans to fix freight payments for trucking carriers — starting with factoring (advance against unpaid invoices) and expanding into a vertical banking platform with accounts, debit cards, and instant transfers. The company positioned itself as a 'next-generation financial platform' for the $400B U.S. freight market. In 2025, Outgo was acquired by DAT Freight & Analytics, the largest freight load board, combining the largest carrier marketplace with Outgo's payments rails.
Product timeline
2021
Outgo founded in Seattle by Uber/Convoy veterans to modernize freight payments.· founding
2022
Raised $3.4M seed from Bezos Expeditions and others.· funding
2023
Emerged from stealth with a vertical banking solution for freight carriers (factoring, banking, cards).· banking
2024
Announced $15M in funding led by Gradient Ventures and Construct Capital; claimed industry-leading factoring speeds.· lending
2025
Acquired by DAT Freight & Analytics; integrated with DAT One marketplace.· acquisition
The stack
Payments / PSP
Banking / BaaS
Lending
Outgo (in-house factoring)Outgo Smart FactoringInvoice factoring with Rate Match GuaranteeInstant funding (as fast as 15 minutes)Quickpay advances (broker-facing, same-day / two-day)
Sponsor bank
Accounting gap: significant