PayCargo gets $35 million injection from Insight Partners

PayCargo

PayCargo has received $35 million from private equity firm Insight Partners to further expand its operations in the automated freight payment space.

Coral Gables, Florida-based PayCargo, which started operations in 2009, experienced more than 80% transaction growth during the past year. The company estimated that it has processed over $2 billion in transportation payments since its start.

“We are excited to work with PayCargo to continue to scale its global payments network and through our...

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PayCargo helps shippers, forwarders pay it forward

PayCargo

The downturn in imports and exports over the past five months due to the coronavirus pandemic has left many small and mid-sized companies wondering if they will be financially prepared to participate in the global economic recovery.

Strict COVID-19 travel restrictions and reduced freight volumes have severely disrupted cash flow between the myriad players typically involved in international freight transactions – shippers, freight forwarders and customs brokers, and carriers.

Philip Philliou,...

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