FactorGenie and Farelanes Announce a Strategic Integration and Partnership
Los Angeles, CA - May 20, 2025 - FactorGenie, a provider of add-on software solutions for the freight factoring industry, and Farelanes, a premier data distribution platform for real-time freight lane pricing, today announced a strategic integration and partnership. This collaboration is set to deliver substantial value to freight factors and their trucking clients by embedding Farelanes' powerful rate intelligence directly into the FactorGenie workflow, enhancing both operational efficiency and risk management.
Under this partnership, all freight factors utilizing the FactorGenie platform will receive direct access to Farelanes' comprehensive real-time lane pricing data. This integration empowers factors with immediate market insights, enabling more informed funding decisions without the usual subscription expense associated with premium rate data.
Furthermore, FactorGenie's innovative Instant Audit platform will now leverage the Farelanes pricing engine via API. This integration allows for automated lane rate analysis on every load submitted for factoring. By comparing submitted rates against Farelanes' real-time market data, the Instant Audit system can flag potentially fraudulent or significantly inflated rates, providing factors with an enhanced layer of security and risk mitigation, powered by industry-leading data they now receive for free.
In a move designed to benefit the entire ecosystem, FactorGenie's factoring customers “i.e., the trucking companies” will receive a complimentary Farelanes Silver subscription. This provides carriers direct access to valuable tools and data—typically requiring a paid subscription—for pricing the freight they haul competitively and understanding market dynamics to foster stronger relationships between factors and their clients.
"Partnering with Farelanes allows us to offer significant value: complimentary access to premium, real-time market data that directly combats fraud and informs better decisions," said Sam Elitzer, CEO of FactorGenie. "Integrating Farelanes' best-in-class rate data not only streamlines validation but critically enhances fraud detection via Instant Audit. We're adding considerable advantages for our factors and, importantly, extending tangible, cost-saving benefits to their carrier clients."
"We are pleased to collaborate with FactorGenie and make our vital pricing intelligence more accessible," stated Neal Huffman, CEO of Farelanes. "Accurate, timely rate data is crucial, but often represents a significant cost. By providing this data as a complimentary service through the FactorGenie integration, we help factors operate more securely and efficiently utilizing our API’s, while empowering their carrier clients with Farelanes Silver, thereby enabling market insights they need to succeed, strengthening the entire supply chain."
This partnership underscores both companies' dedication to innovation and providing robust, value-driven solutions that address the evolving needs of the transportation finance sector by removing cost barriers to critical data.
About FactorGenie
FactorGenie provides cutting-edge add-ons designed to integrate with the software that freight factors already use. Its platform streamlines operations, enhances risk management, and improves efficiency for factors of all sizes. The Instant Audit feature offers advanced, automated analysis to protect factors from potential fraud.
More about FactorGenie: https://www.factorgenie.com/
About Farelanes
Farelanes is a leading provider of real-time freight lane pricing data, analytics and market intelligence for all equipment types moving over America’s highways, not just dry van, flatbed and reefer. Its platform offers carriers, brokers, shippers and factors up-to-the-minute lane rate and associated information, helping them make better business decisions and move freight faster.
Founded in 2023, Farelanes is headquartered in Fort Worth, Texas. Visit us or sign-up for any subscription at https://farelanes.com.