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AtoB, a fleet payments platform, is leveraging telematics and geolocation technology to give...
Increased internet connectivity and usage have led to rapid growth in Mexico’s e-commerce sales; global tensions have increased the United States’ reshoring efforts in the region; and major highway projects have resulted in a Mexican road freight market valued at $82 billion with a forecast compound annual growth rate of 9.91% through 2027.
But Latin American trucking companies and freight brokers “have been incredibly ignored by the financing sector,” according to Jaime Tabachnik, CEO of...
Trucking payments platform AtoB announced Wednesday it has raised $155 million in a Series B round led by Elad Gil and General Catalyst.
The funding is a combination of equity to scale its services over the next year, along with debt and customer acquisition cost financing to provide working capital to small fleet businesses, the company said in a news release.
“AtoB is working to improve the lives of the operators and drivers who power the global economy,” Vignan Velivela, AtoB’s CEO and...
https://www.freightwaves.com/news/atob-raises-155-million-series-b
Freight payment platform PayCargo said Wednesday it has secured up to $130 million from the Blackstone Group, one of the world’s largest private equity firms, to support rapid international expansion, new product development and potential acquisitions.
The series C investment from funds managed by Blackstone Growth represents the largest funding round for 13-year-old PayCargo, which landed $125 million from private equity firm Insight Partners exactly one year ago. Blackstone considers the...
https://www.freightwaves.com/news/paycargo-fintech-for-freight-lands-130m-from-blackstone-group
Carrier-focused financial tech provider Outgo announced its launch Thursday. The Seattle-based venture-backed company has emerged from stealth with its platform that provides a vertical banking solution for carriers, allowing them to automate broker relationships as well as functions like invoicing, factoring and collections.
The company also announced it raised seed funding of $3.4 million in a round led by Neo and PSL Ventures. Other investors included Bezos Expeditions, Convoy co-founder and...
https://www.freightwaves.com/news/carrier-fintech-provider-outgo-announces-platform-launch
Solvento, a Mexico City-based digital platform providing trucking companies with access to capital, announced Monday it has raised $4.5 million in a fundraising round led by Dynamo Ventures.
Other participants included Wollef Ventures and Zenda Capital, along with a $3 million debt facility from Marco Financial.
Jaime Tabachnik, co-founder and CEO of Solvento, said the funds will be used to hire more employees as well as provide capital for the loans it gives out to Mexican trucking companies.
“A...
https://www.freightwaves.com/news/solvento-raises-capital-to-help-mexican-trucking-industry
Blitzscaling is back and the stock market is paying a huge premium for growth, without consideration of profits. This seems to be at odds with the circumstances that kicked off 2020, when investors were pulling back and putting pressure on startups to focus on sustainable growth.
Even at FreightWaves, which grew by 250% in 2019, investors were telling us that we needed to prioritize profits and sustainability first. But then COVID hit and everything changed.
March, the height of the COVID...
https://www.freightwaves.com/news/supply-chain-and-freight-tech-are-on-fire-this-is-just-the-start