TriumphPay makes minority equity investment in Trax Technologies

Trax Technologies announced a minority equity investment by TBK Bank, SSB d/b/a TriumphPay, and a strategic relationship with TriumphPay/ The relationship will allow Trax’s leading global freight audit solution to integrate seamlessly with TriumphPay’s payments network, creating a highly secure payments platform for its Fortune 1000 customer base. This integration will provide greater financial flexibility to both shippers and logistic service providers while reducing the risk of fraud within transportation payments. Upon completion of the technical integration, all payments made by Trax will be made via the TriumphPay network, providing automated payments, fraud protection, funds security, and flexibility in the timing of payments for shippers and carriers alike. Under the agreement, TriumphPay, a brand of Triumph Financial will become a minority investor in Trax, alongside Strattam Capital and Spire Capital.