Cadence Enters into Strategic Originator Partnership with Axle

Cadence, a leader in the digital securitization of alternative investments, is partnering with Axle Payments to expand its offering of investment products

Cadence is excited to announce its strategic partnership with Axle Payments. By welcoming Axle, Cadence continues to work with only the highest-quality originators in the specialty finance industry. Through establishing a robust network of top tier originator partners, Cadence continues to offer investors unique, high-yield investment products while providing growth capital to deserving partners.

Over the past year, Axle has gone about revolutionizing the freight factoring industry by leveraging its technology to streamline the traditionally inefficient process of factoring invoices. As a tech-forward originator, Axle has been able to automate key workflows and provide their customers with real-time updates and access to their accounts from any device, further enhancing the customer experience.

Based in New York, Axle is looking to grow their business by purchasing a larger volume of invoices from a growing list of clients eager to do more business. The management team at Axle has over 30 years of legal, technology, and finance experience, much of it in the factoring industry.

By digitizing the payment and onboarding processes, Axle efficiently provides flexible working capital that freight and logistics companies can use to sustain growth and pay operating expenses. Freight companies using Axle upload the required documents to Axle’s credit analysis system which assesses the quality of their invoices, a system designed to avoid credit losses.

Prath Reddy, Head of Capital Markets at Cadence, detailed how the partnership showcases Cadence’s continued intention to build an innovative network of originators.

“Axle has its origins as a software company,” Prath said, “and they have continued to be technology-driven in their operations and risk management.”

With an underwriting process that has successfully avoided credit losses to date, Axle has increased their volumes 74% month over month. Cadence’s partnership with Axle Payments means Axle can connect with a pool of hundreds of individual and institutional investors familiar with working capital finance and other alternative asset classes.

“Partnering with Cadence will allow us to expand our reach and help more freight brokers find the capital they need to scale their businesses,” said Bharath Krishnamoorthy, CEO of Axle.

Cadence is excited to work with Axle and provide investors of its platform exposure to this very short-duration asset type while allowing Axle Payments the opportunity to grow its client base.

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