Rate Range
3-5%
Advance Rate
90-95%
Contract
No contract required; per-invoice factoring available
Founded
2019
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Our Review
Instapay focuses on speed — they aim to fund invoices faster than anyone else, often within hours of submission. The mobile-first app is modern and the process is streamlined. However, the higher rates, newer company status, and limited additional services mean you are paying a premium for that speed. Best for carriers who need cash fast and are willing to pay for it.
Pros
- Extremely fast funding — often within 2-4 hours during business hours
- Modern, mobile-first app designed for on-the-go invoice submission
- Quick onboarding — can get approved and funded in the same day
- No long-term contract required
- No minimum invoice volume
Cons
- Higher rates than competitors — you pay for the speed
- Very new company (founded 2019) with limited track record
- No fuel card program or additional carrier services
- Customer support infrastructure is still developing
- Limited non-recourse options
Our Verdict
Instapay delivers on its core promise: fast money. If you need an invoice funded in hours rather than by end of day, Instapay does it. However, the premium rates, limited services, and newer company status mean it is not the best choice for long-term, high-volume factoring. Think of Instapay as a speed tool — useful when you need cash urgently, but not your everyday factoring solution. For consistent factoring, RTS, OTR Solutions, or Apex Capital offer better overall value.
Rates & Terms
Factoring Rate
3-5%
Advance Rate
90-95%
Minimums
No minimums
Contract
No contract required; per-invoice factoring available
Higher rates reflect the speed premium. Flat-rate pricing without volume discounts means high-volume carriers do not benefit from scale. Per-invoice factoring is available — you choose which invoices to factor. No hidden fees but the base rate is above market average.
Features
| Same-Day Funding | |
| Non-Recourse | |
| Fuel Card | |
| Free Credit Checks | |
| No Minimums | |
| No Long-Term Contract | |
| Mobile App | |
| Broker Verification | |
| Fuel Advances | |
| Collections Included |
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This review is one company. The explainer for the product, including the broker bond and why 49 CFR 377.203 is not a broker pay deadline, is the freight factoring guide.
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