Freightify a freight rate management platform is solving the complex challenges facing freight forwarders and helping them to do more business faster at lower costs.
Freightify announced a $12M debt & equity Series A funding round to help power the digital transformation of Freight forwarders through Freightify’s suite of products.
Freightify empowers freight forwarders by providing rate automation solutions to digitize their rate procurement, rate management, and quotation processes with ease.
The platform allows any forwarder to create a digital storefront to serve their customers better.
In addition to this, it includes track and trace solutions that help freight forwarders in getting the live location of vessels and automated milestones within seconds.
Freightify’s platform allows freight forwarders to procure, manage and quote freight prices (including all possible ancillary charges) in less than 2 minutes.
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 its brand awareness globally as they expand into new geographies and segments.
The round was led by Sequoia Capital India with participation from TMV and Alteria Capital. The round also includes returning investors Nordic Eye Venture Capital and Motion Ventures.
Founded in 2016 and based in Singapore, Freightify initially started as a marketplace for freight forwarders to conveniently search, book, and track freight.
This experience in automating sea freight paved the way for a SaaS pivot.
Read more on Tech Gist Africa:
Gold loan platform Indiagold raises $10 million