Freightify has announced a $12m (€10.9m) debt and equity Series A funding round to help power digital transformation of freight forwarders through their products.
Freightify’s new funding round will help launch new functionalities and deliver on a strong and expanded product roadmap, expand the sales presence globally, build channel partnerships, strengthen its marketing to drive growth and increase brand awareness globally as the company expands.
Freightify’s platform, with rate management and quoting capabilities, is able to empower freight forwarders to procure, manage and quote freight prices (including all possible ancillary charges) in less than two minutes.
Raghavendran Viswanathan, CEO of Freightify, says: ‘For too long, freight forwarders have been restricted to spreadsheets and legacy processes to do business. We set up Freightify to remove the heavy lifting of manually providing quotations, accepting email/telephonic bookings, managing documentation, coordinating and tracking shipments. Freightify solves these challenges by giving them and their customers a live pricing platform like the ones used by travellers to compare airfares, showing real-time rates on a single screen. Freight forwarders are like the travel agents for global trade. However, air travel is not as complicated as global trade. Supply chains require experts to manage cargo throughout the entire lifecycle and freight forwarders play a vital role in greasing the wheels.’
Source: Cyann Fielding, Journalist, AntwerpXL
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