Denim, the newly re-branded Axle Payments, and a leading financial enablement platform for the freight and logistics sector, announced it has closed a $126 million Series B round led by Pelion Venture Partners. The round consists of $26 million in equity financing and $100 million in debt financing. Denim’s financial enablement platform is on a path to making freight cargo payments simple and reliable at every stage of the supply chain. Its ability to ease working capital constraints for suppliers with supply chain financing solutions is an enormous opportunity right now given the continuing challenges to logistics precipitated by the pandemic and the Russian invasion of Ukraine.
Axle Payments Rebrands to Denim, Raises $126 Million to Scale Financial Automation and Payments Platform for Freight Industry