“Can a freight-payments network become the end-to-end financial operating system for global logistics — owning payments, embedded credit, AP automation, and compliance for every node in the supply chain?”
Founded in 2007 as a niche electronic payments clearinghouse for the air freight industry, PayCargo progressively expanded to cover ocean, rail, truck, customs, and warehouse payments. The company remained bootstrapped for over a decade before securing its first institutional round in 2021. The embedded credit arm (PayCargo Finance / PayCargo Capital) was spun up in 2017 and backed by a formal lending partnership with Evolve Bank & Trust in 2021, embedding short-term trade credit directly into the payment workflow. The Series C in 2022 signalled an ambition to become the full financial OS for global logistics — moving from payment facilitation into AP automation, AI-powered invoice processing, and data analytics.
Paycargo discloses Evolve Bank & Trust as its sponsor bank, according to the Embedded Finance Index 2026.
Paycargo does not disclose a bank charter of its own; its banking services are provided through Evolve Bank & Trust.
Paycargo's lending and capital products are provided by Evolve Bank & Trust (lending partner).
The Embedded Finance Index 2026 maps 2 layers in Paycargo's stack: Lending (Evolve Bank & Trust (lending partner), PayCargo Finance (15/30/45-day deferred payment), PayCargo Line of Credit ($50k–$5M) and PayCargo Credit); Sponsor bank (Evolve Bank & Trust).
Paycargo is founded in 2007 and headquartered in Coral Gables, FL, United States.
Paycargo has raised $290M+ in total (latest round: Series C, June 2022).
Get a read on where your own stack stands against Paycargo and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.