vHub moving into the U.S. market

ATLANTA, Ga. – vHub, the Canadian company that developed an app to help fleets share and reposition trailers, is moving into the U.S. market.

The company announced the move at the Technology & Maintenance Council’s spring meetings, and will go live in the U.S. on Feb. 26.

The app has been in Canada for nine months and has managed 20,000 rental days, has 4,000 trailers listed and more than 100 companies registered.

Francis Roy, vice-president of vHub, said the company is owned by Finloc 2000, an asset-based lender with a deep understanding of the trailer industry.

“We understand the fluctuations of trailer utilization,” he said, adding Finloc 2000 regularly takes calls from customers either looking to borrow money to buy trailers, or negotiate skipped payments when business slows. “If these guys could talk to each other, it would help everybody in the business.”

Roy said fleets are already exchanging trailers and supporting others’ backhauls, but needed a digital platform to coordinate.

“Our aim is to become the global trailer sharing community for the trucking business,” he said. “Today, in 2020, it’s mind-boggling there’s no way for anyone in the business to know there’s an available trailer across the street they can use right now.”

The vHub app works on any mobile device and is free to join and list trailers. vHub takes a cut on transactions and handles the financial aspect. Proof of insurance coverage is required upon sign-up and deals are done via credit card (vHub ensures in advance the credit card is pre-approved). A contract protects renters from damage to the asset while out on loan.

For more information visit vhubapp.com.

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James Menzies is editor of Today's Trucking. He has been covering the Canadian trucking industry for more than 20 years and holds a CDL. Reach him at james@newcom.ca or follow him on Twitter at @JamesMenzies.

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