Industry Addendum
Flexport receives US$100 million from SF Express to fund expansion
June 1st 2018
China’s leading courier company, SF Express, is investing US$100 million in software powered freight forwarder, Flexport. Read More » SF Express joins investors, including First Round Capital and Bloombeg Beta, in backing the five-year old company that is servicing 15,000 customers worldwide in 2018.
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Flexport provides businesses with global logistics services for air and ocean freight, trucking, cargo insurance nd customs brokerage.
The freight forwarder is investing in technology to reduce transaction costs and provide supply chain managers with the means to make data driven decisions.
Earlier this year, Flexport launched its private air freight service, which is a dedicated B747 that flies twice weekly between Hong Kong and Los Angeles. By year end, the company is expected to double its warehouses and open offices in Hamburg, Chicago, Taiwan and Singapore that will add to its presence in Los Angeles, Atlanta and Shenzhen.
Flexport CEO and founder, Ryan Petersen, said: “The investment by SF Express, one of the world’s top couriers, will let us create more value for businesses shipping freight internationally.”
