Equipment Finance News
  • News
  • Event
  • Data
  • Features
  • Lender Directory
  • PodcastNew
  • WebinarsNew
    • Webinar Library
Log In
No Result
View All Result
  • Dealers
  • Lenders
  • Transportation
  • Agriculture
  • Construction
  • Materials Handling
  • Rentals
  • Compliance
  • Data Analysis
Equipment Finance News
  • News
  • Event
  • Data
  • Features
  • Lender Directory
  • PodcastNew
  • WebinarsNew
    • Webinar Library
No Result
View All Result
Equipment Finance News
No Result
View All Result

Trnsact surpasses $1B in platform transaction volume

Volume represented 23K equipment buyers

Johnnie Martinez IIbyJohnnie Martinez II
October 18, 2023
in Lender Operations
Reading Time: 2 mins read
0
Share on FacebookShare on LinkedIn

Commercial equipment finance software platform Trnsact has surpassed $1 billion in transaction volume on its platform and the company is on track for triple-digit growth this year. 

Trnsact’s software-as-a-service (SaaS) platform enables equipment vendors to digitize their finance and insurance (F&I) and sales operations, as well as connect vendors (dealers) with lenders, according to a Trnsact release.  

The platform services the agriculture, construction, material handling and transportation industries, co-founder and Chief Executive Beckham Thomas told Equipment Finance News. 

“As of last month, Trnsact has processed $1 billion in total transaction volume since inception in 2020,” he said. “This represents 23,000 equipment buyers.” 

Trnsact’s projected annual growth volume is trending above 120%, Thomas said. Our “current growth rates project total transaction volume in 2024 to be $1.6 billion,” he said. 

The company’s services and operational setup are comparable to that of Dealertrack on the automotive side, Thomas said. Dealertrack connects finance providers with consumers purchasing motor vehicles at auto dealerships and allows aftermarket and warranty products to be rolled into installment contracts.  

Compliance, security and data collection are key elements of Trnsact’s growth, Thomas said. As lenders lean more heavily on vendors for data collection under Section 1071 of the Dodd-Frank Act, the ability to securely collect customer data within the requirements will be key. 

“A lot of [Trnsact’s growth] has been fueled by a desire to be compliant, to securely capture customer information and sensitive credit information, and [to help] dealers submit data to lenders,” Thomas said.

Tags: SaaSTrnsact
Previous Post

California has an electric big rig mandate, manufacturers will struggle to meet it

Next Post

Volvo Financial Services originations up 18%

Related Posts

Under attack: The rise of AI-powered fraud in banking
Lender Operations

Under attack: The rise of AI-powered fraud in banking

May 20, 2025
Dakota Financial, A digital display representing an AI-powered neural quantum processor in the Samsung Electronics Co. hall at the IFA Consumer Electronics and Home Appliances trade fair in Berlin, Germany, on Thursday, Aug. 31, 2022. Inflation slowed less than expected in Germany, offering European Central Bank officials a partial picture of the region’s price pressures as they judge whether to raise interest rates again.
Lender Operations

AI can bolster sales, CX

May 19, 2025
0% financing forges double-edged sword in equipment finance
Lender Operations

0% financing forges double-edged sword in equipment finance

May 19, 2025
Next Post
A Volvo badge and parking-assist camera on the grille of an automobile at a Volvo Cars AB dealership in Stockholm, Sweden, on Thursday, Aug. 19, 2021. Volvo Cars said it’s considering an initial public offering months after calling off earlier plans to merge with Geely Automobile Holdings Ltd., the Chinese manufacturer owned by its parent.

Volvo Financial Services originations up 18%

Proud Member Of

Check Out Our Industry Event

Stay Informed With Our 8 Newsletters

The Dig Podcast

Dealer Operations

Kubota tractors on display during the Expo Agro Sinaloa

Dealers, lenders emphasize flexibility amid economic hardship

May 16, 2025
The Marriner S. Eccles Federal Reserve building in Washington, DC, US, on Thursday, Dec. 28, 2023. The market's reaction to the Federal Reserve's pivot toward interest-rate cuts this month has boosted expectations that would-be public companies may accelerate their IPO timelines.

Tariff-driven pessimism drives ‘wait and see’ approach

May 15, 2025
A Caterpillar bulldozer at a construction site in Hudson, New York, US.

Finning new equipment sales rise 7% YoY

May 14, 2025
  • About Us
  • Advertise
  • Contact Us
  • Privacy Terms
  • ADA Compliance

 Manage Cookie Consent

Connect with us

© 2025 Royal MediaRoyal Media

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
    • All News
    • Dealers
    • Lenders
    • Transportation
    • Agriculture
    • Construction
    • Material Handling
    • Rentals
    • Compliance
    • Data Analysis
  • Event
  • Data
  • Features
  • Lender Directory
  • Podcast
  • Webinars
    • Webinar Library

© 2025 Royal MediaRoyal Media

THIS WEBSITE USES COOKIES

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I CONSENT”, you consent to the use of ALL the cookies.

Cookie settingsI CONSENT

Review our Cookie Policies
.
Manage Cookie Consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
Save & Accept