Trax Technologies, an Irving, TX-based company which specializes in Transportation Spend Management solutions, received a minority equity investment from TBK Bank, SSB d/b/a TriumphPay, and a strategic relationship with TriumphPay.
The amount of the deal was not disclosed.
The relationship will allow Trax’s audit solution to integrate with TriumphPay’s payments network, creating a secure payments platform for its Fortune 1000 customer base.
Led by Hampton Wall, CEO, Trax specializes in transportation spend management solutions. Combining cloud-based applications with expert services, it helps customers manage and control their global transportation costs and drive enterprise wide efficiency. With a global footprint spanning North America, Latin America, Asia and Europe, the company delivers data-based visibility and insights, savings and better control of transportation spend for shippers of all sizes.