Freight Insights News

Introducing the Freightos Marketplace

Introducing the Freightos Marketplace

In 1900, gross world production was $175 billion dollars. By 2014, it reached $77 trillion dollars.

This tremendous growth was driven by freight shipping, which scaled in size but didn’t significantly improve underlying technology, getting bigger, not getting smarter. For example, 26% of the 730 million TEUs shipped annually and approximately 30% of trucks on the road are empty.

In an era that has embraced data technology for improving everything from entertainment to finance, freight is still manual.

The data of global supply chains simply moves too slowly, creating a barrier for frictionless global trade. Three-day freight quoting, opaque pricing, error-prone data entry and incorrect routing hold logistics providers, retailers, distributers and importers hostage to manual processes and wasted money.

Sources: AB

Four years ago

…we set out to change this by bringing freight shipping online.

So we spent the past four years helping some of the largest freight companies automate operations. After automating over five million free freight quotes, we’re proud to finally announce that we’re launching our online freight marketplace.

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Our goal remains making global trade frictionless.

Using the Freightos Marketplace, companies can get instant freight quotes from great forwarders, book them and manage freight shipments online. Combined with 24/7 support and incredible rates, the marketplace will make it easier to import and export than ever before.

Check out the full press release below…or click the button to sign up now for free.

Freightos Launches First International Freight Marketplace to Power $2 Trillion Worth of U.S. Annual Imports

Leading LogTech Company Enables Frictionless Trade by Bringing Global Freight Pricing, Booking and Freight Management Online

(Hong Kong, July 26th 2016) –  Freightos, a pioneer of the LogTech (logistics technology) sector, today announced the launch of the world’s first online marketplace for international freight, providing instant comparison, booking, and management of freight services from multiple logistics providers.
Until today, the freight industry was reminiscent of the travel industry in the 1970s: siloed information, lack of pricing transparency, and obsolete analog documentation, resulting in importers often having to wait days for a single freight quote and overpaying by as much as 40%. For the SMEs that make up 97% of U.S. importers, these waiting periods and inflated prices significantly limit potential for growth. The Freightos Marketplace is finally delivering ease and transparency to the trillion dollar market of international freight, powering smoother international trade.

“The logistics industry is the backbone of global trade. At $4 trillion it accounts for about 10% of the world’s GDP. But this foundation of the international economy is slow, opaque, and offline,” said Zvi Schreiber, CEO and founder of Freightos. “Over the last four years, Freightos has brought some of the world’s largest logistics providers online. Today we are thrilled to launch the world’s first online marketplace, which will make shipping goods as easy as booking a flight online. The future of global trade starts today.”

Prior to this launch, Freightos automated millions of freight price quotes for some of the world’s largest freight forwarders including Nippon Express, Hellmann Worldwide Logistics, and CEVA Logistics, as well as massive supply chain companies including Sysco Foods, Panasonic USA, and Marks & Spencer. The same routing and pricing technology now powers the Freightos Marketplace giving SME importers and retailers the unprecedented ability to compare, book, and manage freight rates in real-time. Initially the Freightos Marketplace is focused on US imports from China, by air and ocean.

“Booking a flight has been electronic for 50 years, but the cargo on airplanes, trucks, and ships is still booked manually. This cannot continue,” said Robert Mylod, investor and director of Freightos, and former CFO of the $60+ billion online travel marketplace Priceline Group. “Growing global trade, e-commerce B2B sales, and sprawling dynamic supply chains demand the transparency and efficiency of online freight. Just like passenger travel went online to accommodate the demands of a growing market, Freightos is finally ushering in a much needed digital marketplace for freight.”

The Freightos Marketplace launched in closed beta in January 2016. Freightos has since updated the platform with increased functionality and added more freight forwarders selling more routes, air, ocean and land. Customer support is available 24/7 to assist with shipment booking and manageme