REV Capital, a provider of factoring and cash flow financing in Canada and the United States, launched REV Tech, a new subsidiary whose mission is to democratize the transportation industry’s access to resources. To achieve this, the company is building a platform to integrate and unify multiple service offerings required by the transportation industry, including factoring, fuel discounts and dispatch software.

REV Capital appointed Bheesham Singh COO for REV Tech. Singh is an industry veteran who has spent the past 20 years driving profitability for his clients.

“This is an exciting time for the industry and I’m thrilled to be a part of the team developing advanced technological innovations designed to have such positive long-term benefits,” Singh said.

In addition, spearheading the technology side as REV Tech’s new chief technology officer will be Akber Abbas, who has nearly two decades of experience in the technology and startup space. Meanwhile, REV Capital’s CEO, Loren Shifrin, will serve as the CEO for REV Tech and REV Capital’s CFO, Michael Lukhton, will serve as the CFO for REV Tech.

“I’m very excited to be working with REV Tech to develop innovative solutions that enhance efficiency optimization and data analytics in our quest to reinvent factoring,” Abbas said. “We’re in a unique position to leverage fintech to improve customer experience based on continually changing needs. This is definitely a key turning point for the industry.”