New York, NY, July 19, 2017 --(PR.com
)-- Truckpay announced today that it has engaged Castle Placement as its exclusive placement agent to raise $4 million of equity to support continued product development, staffing, sales and marketing.
TruckPay is a niche enterprise software solution that efficiently manages the logistics of and payments for moving earth, sand, gravel and other heavy construction materials – a $70+ billion industry in the US alone. TruckPay automates the existing paper-based system used by construction companies, dirt moving sub-contractors and material suppliers to hire, assign jobs to and pay independent earth-moving owner-operators and subcontractors. TruckPay’s cloud-based platform works on smart phones, tablets, through any web browser and other electronic devices, tracks jobs accurately and transparently and allows for immediate payment to the drivers. Similarly, companies can post jobs on TruckPay and earth-moving operators can accept them directly, eliminating excessive middlemen broker costs.
Founded in 2009, Castle Placement raises equity and debt private capital for start-up, early-stage and middle market companies across a broad spectrum of industries. Its robust technology platform connects issuers with global institutional investors. The Castle Placement platform has over 27,000 private equity, venture capital and strategic investors, family offices, pension funds, foundations, endowments, sovereign wealth funds, hedge funds and lenders.