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Axle, a New York-based financial services platform for the freight and logistics industry, raised $10M in Series A funding.
The round was led by Crosslink Capital, FJ Labs, Flexport, Tribeca Early Stage Partners, Ron Suber (fintech investor), Jett McCandless (founder, Project44), Michael Mook (CEO, Fundopolis; principal, Big Plan Holdings), Darshan Somashekar (co-founder, EasyBib and drop.io), Mandeep Arora (founder, Cantaloupe), and Daniel Warner (SVP, sennder), Anthemis Group, Techstars, and Plug and Play Ventures.
The company intends to use the funds to expand operations, grow its client base, and further develop its payments and financing platform.
Led by CEO Bharath Krishnamoorthy and CTO Shawn Vo, Axle combines industry expertise with a technology platform to allow freight intermediaries to modernize their operations and optimize their cash flows.
/PRNewswire/ Loadsmart, a digital freight technology company, and Manhattan Associates, an industry leader in transportation management systems (TMS),.