Smart waste and recycling company Rubicon has launched a financing program for its haulers — a network now totaling more than 5,000 — that the startup says should translate to more haulers providing better service to customers and diverting more waste from landfills.
Through a partnership with The Credit Junction, Rubicon haulers are now able to access term loans or lines of credit from $500,000 to $5 million.
The “Uber of trash” connects companies with independent commercial waste haulers that bid for their business. Once its haulers get the trash, Rubicon then works with its vendor network to recycle, repurpose or convert to energy the materials it has collected. It also shares the revenue from recyclables with the companies generating the waste.
Rubicon says this cloud-based business model drives down waste management costs and creates potential new revenue streams for its customers. It also allows independent haulers to compete for customers of all sizes, operate more efficiently, and grow their businesses.
“Rubicon relies on our network of independent haulers, and we’re committed to giving them the tools they need for success,” said Nate Morris, Rubicon’s co-founder and CEO in a statement. “Our partnerships with organizations like The Credit Junction help to level the playing field by enabling our haulers to grow their infrastructure and compete for business.”
Last month Rubicon partnered with data company Trucost to help companies track more accurate data on GHG emissions from their trash.
Through the Trucost partnership, Rubicon reviews and verifies calculations of its customers’ GHG emissions from waste sent to landfills as well as monthly emissions savings from recycling, composting or anaerobic digestion.