Tank Payments
Tank Payments is an Austin-based fintech that provides instant payment, banking, and fuel card infrastructure for freight factors, brokers, carriers, and TMS platforms via a BaaS stack and AI-driven payables automation.
- Company typePrivate
- Founded2022
- HeadquartersAustin, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What Tank Payments does
Tank Payments is a financial technology company founded in 2022 and headquartered in Austin, Texas, that builds payment and banking infrastructure specifically for the freight industry. The company serves four primary segments — freight factors, freight brokers, freight carriers (trucking companies), and TMS/FMS platforms — providing tools to move money faster than traditional ACH or wire rails and to automate the surrounding payables and receivables workflows. Its headline capability is enabling 24/7 instant carrier payments within minutes of paperwork submission, paired with AI-driven document verification and cash application tailored to factoring workflows.
The platform is organized as eight integrated modules: Payables Automation, Receivables Automation, Connect Payables, Driver Pay, Banking (with VISA Fleet cards), Digital Wallet, Fuel Card Manager, and Integrated Fuel. Underlying technology includes AI-assisted invoice and document verification, multi-rail payment orchestration across ACH, RTP, and Tank account balances, a custom business rules engine for risk parameters, and fraud detection with SMS alerts. Native integrations with freight-specific software — FactorView, FactorSoft (Jack Henry), FactorCloud, FactorFox, Descartes Aljex, Winfactor (Lendscape), and Sunnybrook TMS — embed Tank's payment rails inside the workflow software factors and brokers already operate. Banking and card services are delivered through a Banking-as-a-Service stack: money transmission via Stripe, card issuance by Celtic Bank, fund custody at Fifth Third Bank (FDIC-insured), and Visa network rails.
Tank Payments monetizes through transaction fees on instant carrier payouts (a disclosed example shows a $27.54 fee on a $4,610 instant payment, with free standard 30-day ACH), enterprise platform/subscription fees for factors, brokers, and platforms disclosed via custom written agreements, and fuel card program administration with spend-based economics. Distribution combines direct enterprise sales, embedded distribution through TMS/FMS integrations, and self-serve carrier onboarding via mobile and web. The company is backed by Y Combinator and Soma Capital, has a disclosed headcount of 1–10, and does not publicly disclose funding amount, revenue, or valuation. Leadership comprises CEO Dane Cook, COO Matthew Rybak, and CTO Jad Rahbany.
Tank Payments firmographics
Firmographics- Name
- Tank Payments
- Legal name
- Tank Payments, Inc.
- Website
- https://tankpayments.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Tank Payments is an Austin-based fintech that provides instant payment, banking, and fuel card infrastructure for freight factors, brokers, carriers, and TMS platforms via a BaaS stack and AI-driven payables automation.
- Ownership category
- akta.pro rank
Tank Payments industry classification
Industry- Product category
- Freight Finance & Logistics Banking Software
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Transportation Services (4700)
- akta.pro primary industry
- Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN)
- akta.pro secondary industries
- Payment Orchestration Platforms (FSAGABAA), Fuel Card & Fleet Payment Programs (TLABAMAA), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)
Keywords
Where Tank Payments is headquartered
LocationHeadquarters
- HQ city
- Austin
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Tank Payments business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales
Revenue model
- Transaction Fees on Instant Payments: Tank Payments charges transaction fees for instant payment processing. When carriers choose instant payouts, a fee is deducted (example shows $27.54 instant payout fee on a $4,610 payment). Standard ACH payments arriving in 30 days are free. This creates a usage-based revenue stream where fees scale with transaction volume and urgency preferences.
- Platform/Subscription Fees: Factors, brokers, and platforms pay for access to Tank's payment infrastructure, payables automation, receivables automation, and treasury management capabilities. Fees are disclosed in separate written agreements or order forms. The platform offers tiered features including instant payments, fraud protection, AI-assisted workflows, and integration with TMS/FMS software.
- Fuel Card Administration: Revenue generated from administering fuel card programs for partners. Tank bundles fuel benefits with the Tank account, eliminating the need for partners to manage fuel administration separately. The company monetizes customers' fuel spend through cardless fuel discount options and fuel advances available 24/7.
- Treasury Cost Savings: Tank enables partners to reduce treasury costs from their first payment through optimized payment routing and lower-cost rails. Partners can configure and collect fees they would normally charge recipients, potentially increasing margin on transactions with Tank's lower treasury costs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Hybrid | Multi-year contract | Custom enterprise pricing based on service modules and volume |
Go-to-market motion4 records
Distribution channels5 records
Marketing channels4 records
Tank Payments product offering
Product offeringCore offering
Tank Payments builds and operates a cloud-native financial infrastructure platform that enables freight factors, brokers, platforms, and carriers to send and receive payments 24/7/365, with instant carrier payouts within minutes of invoice submission. The platform bundles payables automation, receivables automation, factoring-specific payment routing, freight-focused banking accounts with VISA Fleet cards, 24/7 driver pay, digital wallets, and integrated fuel card management into a single ecosystem. Its distribution model combines direct enterprise sales with native integrations into major transportation management systems (TMS) and freight factoring software platforms.
Product overview
Tank Payments provides an end-to-end unified financial platform for the freight industry, serving factors, brokers, platforms, and carriers. The platform consists of eight integrated modules: Payables Automation for invoice processing and carrier payments, Receivables Automation for collections and cash application, Connect Payables for factoring company payment routing, Driver Pay for 24/7 driver disbursements, Banking for freight-focused financial accounts with VISA Fleet cards, Digital Wallet for instant funding decisioning, Fuel Card Manager for fleet fuel spend administration, and Integrated Fuel for fuel advances and cardless discounts. These modules are designed to work together as a unified ecosystem—factors and brokers automate AP/AR workflows while carriers access banking, driver pay, and fuel benefits through connected Tank accounts, enabling instant 24/7 payments across the entire freight payment stack.
Differentiator
Problem solved
Functional benefit
Products and services
- Payables Automation Payments automation for logistics businesses that make high-volume payments to multiple recipients. Enables 24/7 instant carrier payments with AI-assisted document verification, connecting directly to TMS/FMS platforms to automate invoice processing and payment releases.
- Receivables Automation AI-driven workflow combining collections and cash application in one platform. Monitors remittance emails, portals, and bank activity; sends smart debtor outreach; and auto-applies payments to invoices to reduce unapplied cash and accelerate ledger closing.
- Connect Payables Payment routing and AP automation designed for factoring companies that want to provide full or partial factoring services or sponsor QuickPay for freight brokers. Handles complex paperwork processing, multi-rail payments (ACH, instant, Tank account), and real-time remittances for all parties.
- Driver Pay 24/7 driver payment disbursement solution enabling instant payouts via phone number without account setup required. Offers unlimited small business payouts with operations-aware payment calculations, ACH or real-time payout options, and fully integrated 1099 data collection and filing.
- Banking Financial accounts specifically built for freight businesses with instant payments, fraud alerts, and driver payroll capabilities. Includes VISA Fleet cards with spend controls, desktop and mobile access, and protection tools for account holders.
- Digital Wallet Instant decisioning and funding solution enabling carriers to receive payment within minutes of paperwork submission. Bundles with banking to provide clients with hub access to benefits, fuel programs, and self-service capital deployment options.
- Fuel Card Manager Fleet fuel spend management solution that bundles fuel benefits with Tank accounts, eliminating need for split payments and constant balance monitoring. Enables ACH, debit, and instant-in funding options for carriers to access fuel cards.
- Integrated Fuel Enhanced fuel card program integration that enables fuel advances 24/7/365 even after business hours, cardless fuel discount options, and in-app fuel card management for carriers with SMS fraud alerts and fleet reporting.
Quantifiable outcome
- Carriers funded faster than ever before
- +4 more outcomes
Companies that use Tank Payments
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles3 records
Tank Payments technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration11 records
AI capability7 records
Feature7 records
Tank Payments partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core.
- Sunnybrook TMScoreSunnybrook TMS and Tank Payments launched an integrated payment automation solution for freight brokers. The integration enables instant funding for carriers through Tank Payments' infrastructure, streamlining invoice approval, payment releases, and carrier communication. The integration allows brokers to approve invoices, release payments, and keep carriers informed within a single system, reducing manual efforts and errors.
- StripecoreTank Payments partners with Stripe Payments Company for money transmission services and account services. Tank Payments Visa Commercial Credit cards are powered by Stripe and issued by Celtic Bank. Stripe serves as the primary payment processing infrastructure for Tank's embedded finance products.
- VisacoreTank Payments operates on the Visa network for its commercial credit cards and fuel cards. The Visa network partnership enables Tank to offer fleet cards (Visa Fleet cards) with global acceptance at fuel stations, ATM access, and fraud protection through Visa's infrastructure.
- Fifth Third Bank N.A.coreTank Payments partners with Fifth Third Bank N.A., Member FDIC, for holding account services and funds. Customer funds are held at Fifth Third Bank, providing FDIC insurance protection for Tank account holders.
- Celtic BankcoreCeltic Bank issues Tank Payments Visa Commercial Credit cards. As the issuing bank, Celtic Bank provides the regulatory backing and card infrastructure for Tank's branded commercial credit products.
- FactorViewcoreFactorView is a TMS/FMS platform integrated with Tank Payments. The integration allows Tank to pull invoice and payment data from FactorView, enabling automated payables processing and real-time payment status visibility within the Tank platform.
- FactorSoftcoreFactorSoft (by Jack Henry) is a freight factoring software platform with native integration to Tank Payments. The integration enables seamless data synchronization between FactorSoft's factoring operations and Tank's payment infrastructure.
- FactorCloudcoreFactorCloud is a cloud-based factoring software platform integrated with Tank Payments. The integration allows factors using FactorCloud to leverage Tank's instant payment capabilities and automated payables processing directly within their workflow.
- FactorFoxcoreFactorFox is a freight factoring management platform with integration to Tank Payments. The partnership enables FactorFox users to access Tank's payment automation, instant carrier funding, and fraud protection tools.
- Descartes AljexcoreDescartes Aljex is a transportation management system integrated with Tank Payments. The integration enables brokers and carriers using Descartes Aljex to access Tank's payment infrastructure for automated invoice processing and instant carrier payments.
- QuickBookscoreTank Payments integrates directly with QuickBooks for 1099 data collection and filing. The integration enables Tank to handle 1099 documentation automatically as part of its driver payroll feature, syncing tax-related information to users' accounting software.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Tank Payments competitors and assessment
Company assessmentBroad incumbents
- Motive (formerly KeepTruckin): Fleet management platform for trucks with ELD, telematics, and an expanding spend management / payments product. Broad incumbent peer to Tank because both serve carriers and brokers with financial tooling, though Motive's core is fleet operations rather than freight payments.
- Samsara: Fleet operations and IoT platform serving trucking enterprises with telematics, safety, and increasingly payments and spend visibility. Comparable to Tank in serving the same end carrier customers with financial and operational tooling, though Samsara is much broader and at significantly larger scale.
- Truckstop: Freight marketplace and load board with factoring and payment products serving brokers and carriers. Comparable to Tank because Truckstop increasingly bundles payments and factoring into its broker/carrier workflow, putting it in adjacent competition with Tank's Connect Payables offering.
Direct peers
- Dwolla: Payment infrastructure API platform enabling ACH, RTP, and push-to-card payouts for platforms and fintechs. Comparable to Tank because both expose payment rails as infrastructure for B2B platforms, though Tank is vertically specialized in freight while Dwolla is vertical-agnostic.
- Modern Treasury: Payment operations platform providing APIs for money movement, reconciliation, and treasury across ACH, RTP, and wire rails. Direct tech peer to Tank — Tank's multi-rail orchestration layer resembles Modern Treasury's stack, though Modern Treasury serves general enterprises while Tank specializes in freight.
- Apex Capital: Large freight factoring company with proprietary technology for carrier and broker payment workflows. Direct peer to Tank in serving factors and brokers with payment automation, though Apex is also the factor itself rather than infrastructure for factors.
- TAFS (Transport Acceptance & Financing Services): Freight factoring company providing working capital to carriers with embedded payment and technology tools. Comparable to Tank because it serves the same factoring-carrier payment workflow, though TAFS is a factor first and platform second, while Tank is a platform that factors can plug into.
- OTR Solutions: Freight factoring and back-office technology provider for carriers and brokers, with instant pay capabilities. Direct peer to Tank because both offer factoring-aligned payment infrastructure, fuel card programs, and carrier banking adjacent to the factoring workflow.
- Triumph Business Capital: Freight factoring and asset-based lending firm with technology offerings for carrier payments and back-office workflows. Comparable to Tank because both target the factoring payment stack and invest heavily in proprietary tech for that flow.
Emerging players
- Highway (formerly CarrierX / Comdata carrier factoring): Embedded payments and carrier onboarding infrastructure for freight platforms and factors. Emerging peer to Tank because both pursue API-first payment infrastructure for freight, though Highway focuses more on carrier onboarding/KYC while Tank focuses on payment disbursement and AR/AP.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Tank Payments social profiles
Digital presenceTank Payments financial estimates
Financial estimateRevenue estimate
Valuation estimate
Tank Payments leadership team
Management profileNumber of profiles
Profiles3 records
Tank Payments funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Tank Payments M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Tank Payments
What does Tank Payments do?
Tank Payments builds and operates a cloud-native financial infrastructure platform that enables freight factors, brokers, platforms, and carriers to send and receive payments 24/7/365, with instant carrier payouts within minutes of invoice submission. The platform bundles payables automation, receivables automation, factoring-specific payment routing, freight-focused banking accounts with VISA Fleet cards, 24/7 driver pay, digital wallets, and integrated fuel card management into a single ecosystem. Its distribution model combines direct enterprise sales with native integrations into major transportation management systems (TMS) and freight factoring software platforms.
Is Tank Payments a public or private company?
Tank Payments is a private company. It is classified as venture growth investor backed and is currently operating.
When was Tank Payments founded?
Tank Payments was founded in 2022. It employs 11 to 50 people.
Where is Tank Payments based?
Tank Payments is headquartered in Austin, United States, in the North America region.
How does Tank Payments make money?
Four revenue lines are on record. Transaction Fees on Instant Payments are the primary driver. The others are platform/Subscription Fees, fuel Card Administration and treasury Cost Savings.
Who are Tank Payments's main competitors?
Broad incumbents on record are Motive (formerly KeepTruckin), Samsara and Truckstop. Direct peers are Dwolla, Modern Treasury, Apex Capital, TAFS (Transport Acceptance & Financing Services), OTR Solutions and Triumph Business Capital. Highway (formerly CarrierX / Comdata carrier factoring) is listed as an emerging player.
Does Tank Payments have an API?
No public API is recorded for Tank Payments.
What industry is Tank Payments in?
Tank Payments's product category is Freight Finance & Logistics Banking Software. Its primary akta.pro industry code is FSAGABAN, Payouts, Disbursements & Mass Payments Infrastructure, with a secondary code of FSAGABAA, Payment Orchestration Platforms. Its NAICS code is 52232 and its SIC code is 4700.