InMotion Global, Inc. announced that through an equity investment by TBK Bank, SSB, it has secured growth capital to further its market leadership of integrated financial services within its flagship product, AscendTMS, a cloud-based transportation management system (TMS) for trucking companies, freight brokers, 3PL’s and freight shippers.
“This investment affirms our bank’s continuing commitment to trucking’s small and middle-market segments,” said Aaron P. Graft, CEO of TBK Bank. “We currently provide a broad and growing range of financial services to the trucking industry – from invoice factoring to equipment finance, insurance, premium financing, asset-based lending and carrier payment processing. But the velocity in which emerging technologies are transforming the market place can no longer be ignored. We’re committed to supporting technology suppliers who support our customers.”
Tim Higham, president and CEO of InMotion Global, Inc. said, “The opportunity prospective was first and foremost when considering this equity investment from Triumph. We’ve worked closely with TBK Bank’s factoring business, Triumph Business Capital, for the past year. The seamless integration between our product offerings have proven to provide unrivaled value for our shared customers. Having firmly established this proof of concept, we wanted to go deeper, wider and faster. Strategic partnerships are the key elements to building a true logistics ecosystem within AscendTMS, and that defines best-in-class services to our mutual customers.”