Outgo emerges from stealth

Outgo, a new all-in-one banking solution for freight carriers, has emerged from stealth with $3.4 million in funding led by Neo and PSL Ventures, along with Bezos Expeditions, Dan Lewis (CEO, Convoy), Jason Droege (Founder, Uber Eats), Jason Davis (CEO, Simon Data), and other angel investors.

The Seattle-based startup, which was founded by former Uber and Convoy employees, is on a mission to help carriers lower their financing costs and manage all of their financial needs in one place. Outgo’s products help automate broker setups, invoicing, factoring, collections, accounting, and tax services without contracts or minimums. Banking services are provided by Blue Ridge Bank.

“Carriers are the cornerstone of the American economy, yet operators lack the right set of tools to help them manage their livelihood and finances. Carriers face high capital costs like rising fuel prices and higher demand for goods, which makes getting paid mission critical. At Outgo, we’re changing the rules of finance for small carriers and eliminating the huge legacy finance problems they’ve faced their entire careers.” – Marcus Womack, CEO and co-founder of Outgo.

“Truckers and carriers are the backbone of the economy, and Outgo is obsessed with helping them do more with less. There’s a tremendous opportunity to reinvent how carriers think about their finances, and Outgo has the right leadership to deliver a winning solution.” – Ali Partovi, CEO of Neo.