Tank is the neobank for truckers. We enable instant funding from factoring companies to trucking companies, so a trucker never has to wait 2 days for money to settle before he can fuel up and get back on the road. By working directly with freight factors, Tank gets free distribution to a sticky audience of truckers and sits directly in the flow of funds in a cash intensive industry ($15-20k per month per truck). In 10 weeks, we closed 2 factoring companies and 17 trucking companies (45% after 1 phone call) - representing $2M+ in yearly direct deposits. With 925,000 trucks in our target segment of companies <7 trucks, and each truck spending $12k per month avg., we have a $2B+ opportunity just on interchange alone. The founders worked together at a startup (founded by DoubleClick founder Kevin O'Connor) that was acquired by Amazon and then spent 4+ years together building Alexa's AI functionality. Jad is a software developer with a CS degree from Cornell University, Matt was a technical product manager of analytics, and Dane was a manager of product management.
Tank Payments is revolutionizing the financial infrastructure for the freight industry, enabling businesses to get paid and make payments faster. Our specialized financial tools are designed to eliminate friction and keep up with the fast-paced nature of freight businesses.
Tank Payments offers competitive pricing with no overdraft fees, no maintenance fees, and no fees for withdrawals at VISA Plus Alliance ATMs. Custom pricing is available for factors and brokers looking to implement our financial solutions.
Our team at Tank Payments is dedicated to providing top-notch financial services tailored for the freight industry. We partner with leading names in financial technology to ensure our clients receive the best possible service. Interested in working with us? Schedule a time to speak with our team today to learn more about how Tank Payments can benefit your business.
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