Tank Payments

Tank is the neobank for truckers. We enable instant funding from factoring companies to trucking companies, so a trucker never has to wait 2 days for money to settle before he can fuel up and get back on the road. By working directly with freight factors, Tank gets free distribution to a sticky audience of truckers and sits directly in the flow of funds in a cash intensive industry ($15-20k per month per truck). In 10 weeks, we closed 2 factoring companies and 17 trucking companies (45% after 1 phone call) - representing $2M+ in yearly direct deposits. With 925,000 trucks in our target segment of companies <7 trucks, and each truck spending $12k per month avg., we have a $2B+ opportunity just on interchange alone. The founders worked together at a startup (founded by DoubleClick founder Kevin O'Connor) that was acquired by Amazon and then spent 4+ years together building Alexa's AI functionality. Jad is a software developer with a CS degree from Cornell University, Matt was a technical product manager of analytics, and Dane was a manager of product management.