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PayCargo, a fintech for the freight industry, raises $130M

TechCrunch LogoTechCrunch2 mo ago

PayCargo, a fintech for the freight industry, raises $130M

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Shipping and cargo services is one of the more fragmented and analogue verticals in the world of industry, with hundreds of thousands of businesses involved in a myriad of aspects of a process that is fundamentally physical (not digital) by its nature.

Companies will want to have that information to help shape their own strategies and know how others are performing in the market, but in many cases the kinds of customers PayCargo works with lack the tools to extract, analyse and glean insights from that information themselves.

The core of the PayCargo platform is a set of cloud-based tools for those ordering shipping services by land, sea or air to send payments, and for vendors to receive them, a set of APIs to integrate the tools into a company’s existing FMS and other IT, as well as financing services for those who do not want to pay for the shipments up front.


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Article Details

Author / Journalist: Ingrid Lunden

Category: StartupsTechnology

Topics: Flexport Logistics E-commerce Kuehne + Nagel Operating systems Enterprise Economy Financial services DB Schenker Paycargo Maryland Dhl Recent Funding Ceo Air france Articles Blackstone Insight Partners Supply chain management Trade

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-15, 08:03:39

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Reading Time: 6 minutes read

Article Length: 967 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 175

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