Frayt is a logistics platform that connects shippers with carriers to provide fast, affordable, and reliable delivery services. The platform was founded in 2018 by a team of experienced logistics professionals who recognized the need for a more efficient and streamlined logistics solution. Frayt leverages cutting-edge technology to optimize the logistics process and provide a superior experience for both shippers and carriers with their fleet of 10,000+ drivers in over 40 markets.
The Need to Compete for Drivers
Frayt faced a major challenge in providing timely payments to its drivers. Frayt’s payments platform was not only charging transaction fees for both businesses and drivers, but also taking up to a week to process payouts. These delays would create additional costs and challenges as they continued to expand. As a rapidly-growing company, Frayt was in search of a more streamlined solution that could deliver faster pay to build driver loyalty and scale alongside them.
Luke Denny, co-CEO at Frayt, knew that his team needed to look for a solution that was able to attract and retain drivers so they were able meet the needs of their rapidly growing business.
Turning to a No-Cost Payment Solution
To solve the payment challenge, Frayt turned to Branch to offer instant payment solutions to their drivers. Branch enabled Frayt to attract, engage, and retain drivers with a fast, uniform payments solution purpose built to scale to the needs of their rapidly growing business.
- Instant payments
- Free digital checking account and debit card
- Uniform, turnkey payments solution
- Fee-free financial services
- Dedicated onboarding & support
“Providing a faster, more seamless payments experience through Branch helps us attract and empower the best independent drivers in an increasingly competitive market, offering more career options than ever,” said co-CEO Luke Denny. “Building that loyalty without adding additional costs is crucial for businesses that want to see accelerated growth in the years to come—and Branch’s fee-free services make that possible.”
Moreover, Branch's suite of financial services, including budgeting tools and financial wellness resources, enabled Frayt's drivers to better manage their finances and plan for their future. Drivers no longer had to rely on traditional banking services that often excluded gig economy workers and were not well-suited to their needs.
“Building that loyalty without adding additional costs is crucial for businesses that want to see accelerated growth in the years to come—and Branch’s fee-free services make that possible.”
Instant Payouts Improve Driver Satisfaction
By providing instant payment solutions and other financial services, Frayt was able to differentiate itself from its competitors and support its growing network of drivers.
“As strong advocates for their workforce, Frayt understands the importance of equipping drivers with the best tools in order to create the best customer experiences,” said Branch founder and CEO Atif Siddiqi. “We’re proud to partner with Frayt to support a new wave of business owners with accelerated payments and ensure both customers and drivers receive incredible reliability and service.”
Learn more about Branch’s 1099 Contractor Payments solution here.