OTR Solutions Buys TruckSmarter’s Factoring and Banking Arm, Accelerating Consolidation in Freight Finance

OTR Solutions has agreed to acquire TruckSmarter’s factoring and business-banking division, a move that underscores the continuing consolidation of the freight-finance market as carriers face tighter margins and rising capital demands.

The deal transfers all of TruckSmarter’s factoring clients to OTR, which will assume responsibility for funding, collections, and customer support. Executives at both companies said the transition is designed to be immediate and uninterrupted for carriers who depend on steady cash flow to cover fuel, maintenance, and insurance costs.

Factoring has long served as trucking’s most accessible source of working capital, allowing small fleets and owner-operators to convert invoices into near-instant funds rather than waiting weeks for payment. The practice has taken on renewed importance as freight markets remain volatile and operating costs move higher. Many carriers now expect same-day funding, transparent fee structures, and tighter integration with dispatch and billing systems—expectations that have raised the bar for providers and increased the pressure to scale.

OTR’s acquisition comes at a moment when several technology platforms are narrowing their focus to core offerings. TruckSmarter will redirect its resources toward dispatching and load-discovery tools after building a following among carriers seeking a more efficient way to identify freight and manage operations.

“Our focus is now fully on building the best suite of software and automation tools to meet the demand we’re seeing from carriers,” said Dan Kao, TruckSmarter’s co-founder and chief executive. “When it came time to find the right home for our factoring clients, OTR was the clear choice.”

OTR has built its brand around speed and service in the carrier-finance segment. CEO Fritz Owens said TruckSmarter’s clients will see faster payments and expanded support operations once the transition is complete. The company also expects synergies between its funding platform and TruckSmarter’s freight-matching tools, which may enable new forms of workflow automation for carriers.

Industry analysts note that the freight-finance sector has been trending toward consolidation. Rising compliance costs, more sophisticated fraud-prevention requirements, and the technical demands of real-time payments have made it harder for smaller providers to compete. Many large carriers have secured alternative financing arrangements, leaving factoring firms heavily dependent on the fragmented small-fleet market, where technology integration has become a competitive differentiator.

“The businesses that keep America’s freight moving need financial services that match the speed of the market,” said Clayton Griffin, president of OTR Solutions. “This transaction reflects our effort to build the infrastructure required to support those needs at scale.”

The acquisition reinforces a broader shift in freight tech, where firms increasingly separate software development from capital-intensive financial services. As load boards, dispatch systems, and back-office platforms evolve, the ability to offer reliable, rapid funding has become essential yet operationally demanding. For TruckSmarter, transferring its banking and factoring operations allows it to concentrate on product development without carrying the overhead associated with financial risk management.

Carriers may benefit from clearer lines between technology providers and financial institutions. The pairing of OTR’s funding capabilities with TruckSmarter’s dispatching and visibility tools could streamline workflows for small fleets that struggle with administrative burdens and thin cash reserves.

The transaction signals growing maturity across the freight-finance space, where firms are moving beyond basic invoice purchasing toward comprehensive financial platforms. For many carriers, factoring remains a critical tool, and as markets tighten, access to rapid and reliable capital is likely to shape competitive outcomes.