Turvo
“Can a collaborative TMS become the connective tissue where every freight financial rail — factoring, payments, insurance, multi-currency — plugs in via partners rather than being built in-house?”
Founded2014
HQDallas, TX, USA
FoundersEric Gilmore
Total raised$91.6M
Latest roundAcquired by Lineage Logistics (2022)
IndustryVertical SaaS / Logistics
The story
Turvo is a collaborative TMS built for freight brokers, 3PLs, shippers and carriers — not a fintech. Since 2022 it has operated as a subsidiary of Lineage Logistics. Its embedded-finance surface area is entirely partner-driven: freight factoring/payments via Denim, payment processing via RoadSync, and back-office AP automation via Epay Manager. Turvo itself does not hold licences or issue financial products; it acts as the workflow layer that its partners' financial rails plug into.
Product timeline
2014
Founded in Sunnyvale, CA as a collaborative TMS platform· founding
2017
Emerged from stealth with $25M Series A· funding
2019
Uber Freight co-founders joined Turvo· leadership
2022
Acquired by Lineage Logistics and Bay Grove· acquisition
2023
Partnership with Denim to embed freight factoring and payments in TMS· partnership
The stack
1 layer disclosed in Turvo’s embedded-finance stack
Lending
DenimFreight factoring via Denim integration
Accounting gap: significant