BasicBlock, a financial technology company aiming to reshape financing options for the trucking industry, has raised USD78 million in a debt and equity raise led by Autotech Ventures, Clear Haven Capital Management, Emergent Ventures, and Nelnet alongside continued investment from Revolution’s Rise of the Rest Seed Fund, SaaS Venturesand TNT Ventures.
BasicBlock launched in 2018 as a simple trucking document capture tool that allowed drivers to scan and send load documents at low rates. The company has evolved to become a complete payment platform for carriers nationwide that ensures same-day payment and exceptional customer service. The influx of capital will allow BasicBlock to continue focusing on factoring while adding and expanding services to help carriers grow their fleets.
