TriumphPay Announces Strategic Relationship With $9.7M Minority Investment In Trax Technologies
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TriumphPay has announced a strategic relationship with Trax Group, Inc., with TBK Bank making a $9.7 million minority investment in Trax. Trax will integrate with the TriumphPay payments network, enhancing its transportation spend management platform. Josh Bouk, former president of Trax, will join TriumphPay as executive vice president, chief partnership officer.
June 22, 2023 | 8:43 pm
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TriumphPay announces a strategic relationship with Trax Group, with TBK Bank making a $9.7 million minority investment in Trax. This partnership could strengthen TriumphPay's position in the transportation payment solutions market.
The strategic relationship between TriumphPay and Trax Group, along with the $9.7 million investment from TBK Bank, will enable Trax to integrate with the TriumphPay payments network. This integration will enhance Trax's transportation spend management platform, potentially leading to increased adoption and revenue for TriumphPay. The addition of Josh Bouk, former president of Trax, to TriumphPay's executive team also adds valuable experience and expertise in the transportation payment solutions market.
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