TruckFi.co
TruckFi.co is a leading digital freight factoring company offering instant payouts 24/7/365 at no extra cost through its e-wallet technology.
Quick Facts
Time to Fund:
Instant
Factoring Fee:
up to 3%
Cash Advance:
up to 98%
Recourse Type:
Both
Features:
Contact TruckFi.co
Our Review of TruckFi.co
Company Snapshot
TruckFi.co is a modern, fintech-first freight factoring provider that has redesigned the truck factoring experience for the digital age. Unlike legacy competitors, TruckFi features e-wallet technology that enables instant, 24/7/365 payouts to carriers at no additional cost. By eliminating the typical 24-to-48-hour banking delays, TruckFi.co helps owner-operators and fleets keep their trucks moving with continuous, frictionless access to operational capital.
Instant Payouts Powered by E-Wallet Tech
The standout feature of TruckFi.co is its 24/7/365 instant payout system. In an industry where traditional factors take up to two days to clear funds via ACH or wire transfer (often charging fees for the privilege), TruckFi processes and deposits money into client e-wallets immediately upon invoice approval.
Because this transfer takes place inside TruckFi's ecosystem, there are no wire or ACH processing fees. This allows the company to provide instant payout services completely free of charge. Truckers can access their funds instantly using co-branded fuel or debit cards, or transfer them to external accounts.
Flexible Factoring Programs with Transparent Rates
TruckFi.co offers both recourse and non-recourse factoring options. They pride themselves on absolute transparency, providing low, flat-rate fees starting as low as 1.5% with no hidden charges, escrow deductions, or monthly minimums.
Their contract structure is flexible, offering no-contract terms that allow owner-operators to factor on their own terms without being locked into long-term exclusivity agreements. This transparency eliminates the typical industry dread of surprise fees.
Integrated Tools for Carrier Operations
In addition to factoring, TruckFi.co offers a full suite of business tools. This includes a robust mobile app that lets drivers snap photos of load confirmations and bills of lading to submit invoices in seconds.
Crucially, the platform includes a free, instant broker credit check tool, allowing drivers to vet brokers and verify payment ratings in real-time before picking up loads. The integrated fuel card program also delivers significant fuel discounts at major truck stops nationwide, funded directly and instantly from the e-wallet.
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