Koffie Financial unveils tailor-made credit card for truckers

The launch is Koffie’s latest innovative financial solution in their mission to help their trucking fleets scale profitably and safely. The Koffie Card will complement their best-in-class insurance products to fill a vast credit need in trucking.

“The trucking industry is responsible for transporting 80% of goods in the US and generates over $700B in annual revenue, yet continues to be wholly underserved in the credit market today,” explains Mike Dorfman, Co-Founder & COO at Koffie. “Existing card solutions for truckers are debit only and miss the mark on controlling expenses and aligning financial incentives. The Koffie Card was tailor-made to provide truckers the first credit card that comes with the tools and financial benefits to weather increasing cost pressures in their businesses.”

Koffie has partnered with Power, a leading credit card issuance platform focused on the commercial space, to launch the Koffie Card. Power’s all-in-one-credit platform allows Koffie to offer a highly differentiated product in a market dominated by offline and outdated payment methods such as paper invoices and debit cards. In addition to market-leading incentives enabled through credit card interchange revenue, the offering will also include robust spend management and expense tracking capabilities, offered natively within Koffie’s platform.

“Now more than ever, verticalized financial solutions are critical to support the unique needs of specific and important industries such as trucking, which is already hyper-margin-sensitive,” says Randy Fernando, Founder and CEO at Power. “Together, Koffie and Power have filled a very real need in the market through best-in-class cash back incentives and workflow management tooling, all embedded within a modern credit card product.”

The Koffie Card is launching this Fall, and will be available to all for-hire trucking companies in the US.