The traditional factoring process relies on fragmented systems, requiring manual phone calls for invoice verification and headcount-heavy teams for collections. Nomad Pay addresses these inefficiencies by consolidating carrier load data, payment history, and credit signals within a single ecosystem. Because the platform already tracks load data as freight moves, the system validates invoices automatically, reducing funding cycles from a full day to mere minutes.
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Nomad Launches Embedded Invoice Funding for Trucking Industry
Toronto-based Nomad has introduced Nomad Pay, an integrated factoring solution designed to replace manual invoice verification with automated workflows. By embedding funding directly into its existing platform, the company aims to eliminate the 24-hour wait times that have long constrained cash flow for North American freight carriers.
For factoring companies, the shift offers a transition away from disconnected data sources toward more accurate, automated risk assessment. The service handles routine collections outreach and cash posting without human intervention, allowing both carriers and factors to operate from a shared source of truth. Founder and CEO Loren Shifrin notes that the product is intended to solve the dual burden of slow payment cycles for drivers and high operational overhead for factoring firms. Existing users of the Nomad Fuel platform can access the new feature immediately, avoiding the integration hurdles typically associated with switching financial software.
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