TriumphPay Hits Payments Milestone, Realigns Executive Leadership Team

TriumphPay, a division of TBK Bank, reported that its annualized payments volume for Q3/21 will exceed $16 billion. TriumphPay also realigned its executive leadership team, as Tim Valdez will join the company as senior vice president and factor leader, Jordan Graft will transition from CEO to strategic advisor and Ed Schreyer will expand his role to president and chief operating officer.

As senior vice president and factor leader, Valdez will focus on driving the strategy, vision and growth supporting TriumphPay’s factor vertical.

“With our mission to provide frictionless presentment, audit and payment for all participants, including brokers, shippers, carriers and factors, Tim will ensure the wants and needs of factoring companies continue to be integrated into our platform,” Schreyer said.

Valdez joined TriumphPay from WEX Fleet One Factoring, where he managed the recourse and non-recourse transportation factoring portfolio. Valdez joined WEX in 2019 when the company acquired Pavestone Capital, a recourse factoring company that Valdez co-founded to serve small and middle-market transportation and commercial businesses. Prior to founding Pavestone Capital in 2012, he served as the chief lending officer for Transportation Alliance Bank.

“I have had the pleasure of knowing Tim for several years,” Aaron Graft, co-founder, CEO and president of TBK Bank, said. “He brings years of experience across multiple factoring companies and deep industry knowledge and leadership that will be invaluable as TriumphPay serves the needs of factoring companies utilizing our payments network for trucking.”

As a strategic advisor, Jordan Graft will work with Aaron Graft and TriumphPay’s leadership team, guiding product strategy and roadmap planning. He will also support the team with strategic partnerships and relationships with freight brokers and shippers.

“When we started this journey with Jordan three years ago, we defined proof of concept as becoming the largest payor in brokered freight,” Aaron Graft said. “As of this quarter, we have achieved that milestone. Several months ago, in anticipation of this landmark, we began laying the groundwork for the transition to the next phase of leadership. Jordan was the entrepreneurial leader we needed to take an idea and turn it into a viable business model, and he has done that with excellence. As we prepared for this transition, we now have Ed Schreyer, Melissa Forman, Tim Valdez and Mike Mangino in place, putting us into a position that allows Jordan to focus on what he does best.”

“TriumphPay has grown from an idea in 2015 to the largest payments network in brokered freight because we leveraged Triumph’s industry knowledge and invested in its potential,” Jordan Graft said. “The opportunity for TriumphPay is larger than it has ever been. We have an exceptional senior leadership team in place, and I can’t think of better leaders to continue growing the business, building the infrastructure and providing stability needed by a multi-billion-dollar payments network.”  

As president and chief operating officer, Schreyer will be guiding TriumphPay’s operations. Schreyer joined TriumphPay in early 2021 as executive vice president and chief operating officer with more than 30 years of experience with CBRE.

“Our best days are ahead of us as we continue our growth, delivering value and cost savings to network participants and, ultimately, revenue to our enterprise,” Aaron Graft said. “With the addition of Ed seven months ago, Tim’s deep industry knowledge and the development talent we acquired from HubTran, we have a more complete leadership team than ever. I am confident these changes will leverage the strengths of our team, continuing our momentum and positioning us for exceptional growth in 2022 and beyond.”