Fintech Startup Axle Raises $10M Series A Following a Record Year of Growth Servicing the Logistics Industry
Summary
Axle, an all-in-one financial services platform for the freight and logistics industry, announced today that is has completed a $10 million Series A round of funding led by Crosslink Capital. This investment round includes participation from 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), as well as existing investors, Anthemis Group, Techstars, and Plug and Play Ventures. Axle’s advantage over its competitors is that it seamlessly connects all parts of the freight brokering process, eliminating wasted time and money for its clients. This funding will allow us to build additional features and functionality within our suite of products to continue to meet the needs of our growing customer base,” says co-founder and CTO, Shawn Vo. By combining decades of industry expertise with a next-generation technology platform, Axle is helping freight intermediaries modernize their operations and optimize their cash flows.