Freightos

Freightos was founded in January 2012 by Zvi Schreiber. Schreiber has previously founded and managed other start-up companies including companies acquired by IBM and GE. The first beta customers of Freightos went live in October 2012 and the SaaS service was commercially launched in March 2013. Freightos raised initial funding from OurCrowd.Abel, Shira (June 2013). [https://thenextweb.com/insider/2013/06/09/freightos-bringing-sexy-back-to-the-freight-industry/ "FreightOS: Bringing sexy back to the freight industry"]. [https://thenextweb.com/ TheNextWeb] Freightos is the trading name of Freightos Limited a Cayman Islands company (previously named Tradeos Limited, a Hong Kong company).

Freightos has been a member of the Airforwarders Association since January 2013[http://airforwarders.org/companies/freightos-ltd Airforwarders Association Member], January 2013 and the International Air Cargo Association since 2021. It is a member in other associations, such as TIACA, the AEMCA{{Cite web |title=7LFreight |url=https://aemca.org/company/7lfreight/ |access-date=2024-12-26 |website=AEMCA |language=en}} and others via its subsidiaries.

In August 2016, Freightos bought Spanish startup WebCargoNet,{{Cite news|url=https://www.wsj.com/articles/freightos-buys-air-cargo-rival-to-boost-online-marketplace-1472637781|title=Freightos Buys Air-Cargo Rival to Boost Online Marketplace|last=Phillips|first=Erica E.|date=2016-08-31|newspaper=Wall Street Journal|issn=0099-9660|access-date=2016-09-08}} which later was marketed at WebCargo by Freightos. A similar, India-based air cargo rate management product, Air Freight Bazaar, was acquired by the company in 2019.{{Cite web|last=Muir|first=James|title=WebCargo acquires Air Freight Bazaar|website=Air Cargo Week|date=11 April 2019 |url=https://www.aircargoweek.com/webcargo-acquires-air-freight-bazaar/|access-date=2021-03-24|language=en-GB}}

In March 2017, Freightos raised $25 million in Series B funding led by GE Ventures bringing the company's total funding to $50 million.

In April 2018, Freightos launched a daily containerized index, called the Freightos Baltic Exchange Index.{{Cite web|title=Baltic Exchange and Freightos to launch global container freight index|url=https://www.insidemarine.com/index.php/news/shipping/1009-baltic-exchange-and-freightos-to-launch-global-container-freight-index|access-date=2021-03-24|website=www.insidemarine.com}} This is widely used as an indicator of global container prices.{{Cite news|date=2021-02-11|title=Container-shipping costs have surged in recent months|newspaper=The Economist|url=https://www.economist.com/graphic-detail/2021/02/11/container-shipping-costs-have-surged-in-recent-months??fsrc=scn/=tw/dc|access-date=2021-03-24|issn=0013-0613}}{{Cite news|agency=Reuters|date=2020-11-18|title=Container freight rates soar on consumer goods boom, supply chain kinks|language=en|work=Reuters|url=https://www.reuters.com/article/us-global-shipping-container-idUSKBN27Y0BT|access-date=2021-03-24}} In 2021 Freightos launched the Freightos Air Index (FAX) of air cargo rates.

In September 2018, Freightos announced a $44.4 million Series C funding round, led by the Singapore Exchange and together with previous investors, including Aleph and More VC.{{Cite web|title=Logistics startup Freightos raises $44.4M Series C led by Singapore Exchange|url=https://techcrunch.com/2018/09/17/logistics-startup-freightos-raises-44-4m-series-c-led-by-singapore-exchange/|access-date=2021-03-24|website=TechCrunch|date=17 September 2018 |language=en-US}} During the interview, Freightos founder Zvi Schreiber also mentioned the company's aspirations to connect carriers, like airlines, directly to forwarders and shippers.

In January 2021, Freightos announced the acquisition of 7LFreight, an air and trucking rate management software solution with a core customer base in the United States.{{Cite web |date=2022-01-17 |title=Freightos Group acquires 7LFreight, expanding digital air cargo product |url=https://www.freightwaves.com/news/freightos-group-acquires-7l-freight-expanding-digital-air-cargo-product |access-date=2022-05-02 |website=FreightWaves |language=en-US}}

In August 2024, Freightos also announced the acquisition of Shipsta, an enterprise-grade tender procurement solution used by multinational importers and exporters.

On July 26, 2016, Freightos launched one of the world's first online marketplaces for international freight,{{cite web|title=SimpliShip|url=http://www.americanshipper.com/main/googlesearch.aspx?q=simpliship|website=American Shipper}} providing instant comparison, booking, and management of freight services from multiple logistics providers.{{Cite web|url=https://www.freightos.com/introducing-freightos-marketplace/|title=Introducing the Freightos Marketplace - Freightos|date=2016-07-26|website=Freightos|language=en-US|access-date=2016-07-28}}{{Cite web|url=http://www.americanshipper.com/Main/News/Freightos_launches_freight_rate_marketplace_64776.aspx?source=Big6|title=Freightos launches freight rate marketplace|first=Eric|last=Johnson|date=July 27, 2016|website=American Shipper|access-date=2016-07-28}} Over time, a number of partnerships related to this endeavor were announced, including direct booking with CMA CGM,{{Cite web|title=Business is Good but Cost Cuts are Coming at CMA CGM|url=https://www.maritime-executive.com/article/business-is-good-but-cost-cuts-are-coming-at-cma-cgm|access-date=2021-03-24|website=The Maritime Executive|language=en}} a top-five ocean liner.{{Cite web|title=PublicTop100|url=https://alphaliner.axsmarine.com/PublicTop100/|access-date=2021-03-24|website=alphaliner.axsmarine.com}}

WebCargo provides rate management including features for uploading freight pricing contracts in Excel, a database for freight rates, and a module for automatic freight and quotations on the Web. The quotation algorithm includes routing of door-to-door freight services.[http://www.ajot.com/article_LogisticsWarehousing.asp?ArticleId=17329 American Journal of Transportation], 5 April 2013 This supports exchanging quote requests and quotes between freight forwarders and their agents. WebCargo also offers white-labeled online sales portal solutions for forwarders.{{Cite web |last=Brett |first=Damian |date=2021-06-22 |title=WebCargo launches a branded booking portal for forwarders |url=https://www.aircargonews.net/freight-forwarder/webcargo-launches-a-branded-booking-portal-for-forwarders/ |access-date=2024-12-26 |website=Air Cargo News |language=en}}

Since 2018, cargo airlines began to offer connectivity for air cargo pricing and booking. During these years WebCargo augmented its business model to also function as a booking platform, and the company claims to be the largest platform with which freight forwarders digitally book air cargo services with airlines. In July 2018, Lufthansa became the first airline to offer direct rates for forwarders on the platform.{{Cite web|title=Instant, Online Air Cargo eBooking Unveiled In Major Lufthansa Cargo-Freightos Launch - Lufthansa Cargo|url=https://lufthansa-cargo.com/-/instant-online-air-cargo-ebooking-unveiled-in-major-lufthansa-cargo-freightos-launch|access-date=2021-03-24|website=lufthansa-cargo.com}} This was followed by additional airlines, including Air France–KLM in April 2019,{{Cite web|date=2019-04-23|title=Dynamic pricing arrives in air cargo with AF KLM and WebCargo|url=https://www.aircargonews.net/trending/airfreight-disruptors/dynamic-pricing-arrives-in-air-cargo-with-af-klm-and-webcargo/|access-date=2021-03-24|website=Air Cargo News|language=en}} IAG Cargo (British Airways and Iberia) in July 2019,{{Cite web|date=2019-06-04|title=IAG Cargo links API to Freightos WebCargo to offer dynamic pricing {{!}} Air Cargo World|url=https://aircargoworld.com/news/iag-cargo-links-api-to-freightos-webcargo-to-offer-dynamic-pricing/,%20https://aircargoworld.com/news/iag-cargo-links-api-to-freightos-webcargo-to-offer-dynamic-pricing/|access-date=2021-03-24|language=en-US}} SAS Cargo in November 2019,{{Cite web|date=2019-11-26|title=SAS Cargo Group to Launch Full Digital Air Cargo Capability with WebCargo|url=https://www.caasint.com/sas-cargo-group-to-launch-full-digital-air-cargo-capability-with-webcargo/|access-date=2021-03-24|website=CAAS /// Cargo Airports & Airline Services|language=en-US |last1=Saunders |first1=Eddie }} Etihad in February 2020,{{Cite web|last=Graham|first=James|title=Etihad Cargo partners with Webcargo By Freightos to expand reach|website=Air Cargo Week|date=10 February 2020 |url=https://www.aircargoweek.com/etihad-cargo-partners-with-webcargo-by-freightos-to-expand-reach/|access-date=2021-03-24|language=en-GB}} AirBridgeCargo in June 2020,{{Cite web|date=2021-01-21|title=Qatar Airways Cargo adds digital booking through WebCargo {{!}} Air Cargo World|url=https://aircargoworld.com/news/technology/qatar-airways-cargo-adds-digital-booking-through-webcargo/,%20https://aircargoworld.com/news/technology/qatar-airways-cargo-adds-digital-booking-through-webcargo/|access-date=2021-03-24|language=en-US}} Qatar Airways in January 2021,{{Cite web|date=2021-01-21|title=Qatar Airways Cargo adds digital booking through WebCargo {{!}} Air Cargo World|url=https://aircargoworld.com/news/technology/qatar-airways-cargo-adds-digital-booking-through-webcargo/,%20https://aircargoworld.com/news/technology/qatar-airways-cargo-adds-digital-booking-through-webcargo/|access-date=2021-03-24|language=en-US}} TAP Air Portugal Cargo in January 2021.{{Cite web|title=TAP Air Cargo to offer freight forwarders real-time e-bookings on WebCargo|url=https://www.stattimes.com/news/tap-air-cargo-to-offer-freight-forwarders-realtime-ebookings-on-webcargo/|access-date=2021-03-24|website=Stat Times|date=13 January 2021 |language=English}} By 2024, carriers on the platform represented some 70% of global cargo capacity, although not all of that capacity is available for digital booking.{{Cite web |date=2024-11-10 |title=WebCargo gains Qantas and Jetstar capacities {{!}} CargoForwarder Global |url=https://cargoforwarder.eu/2024/11/10/webcargo-gains-qantas-and-jetstar-capacities/ |access-date=2024-12-26 |language=en-US}}

The company continues to report on additional carriers, reaching 55 digitized carriers actively receiving bookings in Q3 2024. Across its entire platform, the company reached 339.1 thousand transactions in Q3 2024, growing 26% compared to Q3 2023.

• Freight broker
• Freight rate
• Freight transport

{{Reflist}}

• Braun, Ted (May 2013). [https://www.aircargonews.com/0513/FT130516.html#ShipperDrivesChange "Shipper Drives Change"]. Air cargo news
• [http://www.manufacturing.net/products/2013/04/freightos-announces-better-automation-for-global-freight "FreightOS Announces Better Automation For Global Freight"]{{Dead link|date=June 2025 |bot=InternetArchiveBot |fix-attempted=yes }}, http://www.manufacturing.net, 4 April 2013

Category:Freight transport

Category:2012 establishments in Hong Kong

Category:Software companies of Spain

Category:Companies based in Barcelona