TEG‘s GoodPay platform has surpassed £478 million in complete funds to UK street haulage companies since launch, with £418 million of that determine processed within the 12 months to October 2026. The milestone underlines a pointy acceleration in adoption amongst a sector traditionally locked out of mainstream bill finance.
GoodPay was designed to deal with a structural cash-flow downside in UK street freight, a market estimated at £39.3 billion yearly. Standard cost phrases within the sector run from 30 to 90 days, whereas common profitability margins for hauliers sit at round 2%. For the SMEs and sole merchants that make up the majority of the provider base, that hole between supply and cost shouldn’t be merely an inconvenience: it determines whether or not they can fund gasoline, pay drivers, or settle for the following load.
How the product works
Rather than routing carriers by means of a traditional credit score software, GoodPay funds in opposition to the finished reserving. Once an bill is authorised, funds clear in beneath 4 minutes on common, with remittance and reconciliation dealt with robotically. Carriers request early cost from the identical dashboard they use to just accept masses, so onboarding, id verification and cost type a single workflow slightly than separate processes.
TEG’s chief income officer Sam Wilkinson famous that velocity alone shouldn’t be the constraint: “You cannot safely pay a carrier faster unless you know who they are. The pain point is usually the admin around it, from onboarding a new carrier to verifying who they are and checking their bank details. Every SmartPay transaction runs through verification with TEG’s partner Trustd, so onboarding, verification and payment are part of the same workflow, and speed never comes at the expense of assurance.”
Payments are made on a non-recourse foundation, that means carriers are protected in opposition to late or unpaid invoices offered they full the load and provide proof of supply. The platform additionally carries proactive credit score management that flags late funds inside days slightly than ready on member studies.
TEG founder and chief govt Lyall Cresswell framed the cumulative quantity as a shift within the sector’s underlying infrastructure: “What began as a faster way to get paid is becoming the financial infrastructure this industry has never had.”
GoodPay received the Best Initiative in Embedded Finance class on the PAY360 Awards 2026, judged by greater than 70 business professionals drawn from organisations together with Mastercard, Lloyds Banking Group and NatWest.
Market context and regulatory backdrop
The low penetration of bill finance throughout UK SMEs is a longstanding structural situation. UK Finance knowledge signifies that round 40,000 companies use bill finance or asset-based lending, representing fewer than 1% of the 5.6 million companies registered within the UK. Traditional services carry minimal thresholds that systematically exclude micro-operators and sole merchants, the very companies that dominate the provider finish of street freight.
The embedded-finance mannequin that GoodPay represents sits on the intersection of a number of lively coverage conversations. The FCA‘s ongoing review of non-bank lending and its work on the SME finance market is relevant here, as is the broader push under the UK’s cost technique for account-to-account settlement to interchange slower batch processes. Where GoodPay embeds funds inside a logistics workflow slightly than providing them as a standalone credit score product, it sidesteps among the regulatory friction that impacts standard bill discounters, although the non-recourse construction and the credit-control perform will entice scrutiny if volumes proceed to scale.
The aggressive panorama for embedded freight funds continues to be forming. Several logistics-adjacent fintech platforms and bigger supply-chain finance suppliers have moved in an analogous path, however few have achieved comparable penetration inside a single vertical. TEG’s place, combining provider sourcing, compliance and cost in a single platform, provides it a distribution benefit {that a} standalone funds product would discover troublesome to duplicate organically.
AI degree 1 of 5: written by Darlyn Ho; AI helped with tone, construction or wording; edited and signed off by Mark Walker, Editorial Director. What the levels mean
