News / Flexport secures a billion dollars in new funds to help grow its global footprint

flexport2.compress.gd

By Gavin van Marle

22/02/2019

US digital-first freight forwarder Flexport has secured “a truly outstanding” $1bn in a new funding round led by Japanese tech investment behemoth SoftBank.

Flexport said the cash would be used to “deepen its technology and data capabilities, grow its global logistics infrastructure footprint and invest in industry expertise”.

SoftBank’s Vision Fund was joined by existing investors in Flexport, including Founders Fund, DST Global, Cherubic Ventures, Susa Ventures and emerging Chinese integrator SF Express.

The investment will see Michael Ronen, managing partner at SoftBank ...

Comment on this article

You must be logged in to post a comment.

Topics

Flexport SF Express SoftBank Start-up stars

Most read news

Keep our news independent, by supporting The Loadstar

Spot rates on transpacific surge after news of tariff time-out

'Cargo collision' expected as transpacific capacity tightens and rates rise

Houthis declare blockade of port of Haifa – 'vessels calling will be targets'

European port congestion now at five-to-six days, and getting worse

Another CMA CGM vessel heading for Suez Canal – 'to mitigate schedule delay'

News in Brief Podcast | Week 20 | 90-day countdown, India and Pakistan

Threat to airport operations as India revokes security clearance for handler Çelebi

South America will benefit as air cargo traffic diverts from the transpacific

CMA CGM will carry on investing after 'solid' Q1, despite unclear outlook

Air cargo forwarders stick to spot rates – a long-term contract would be 'foolish'

Demand for transpac airfreight capacity returning – but 'it's not ecommerce-driven'

Brazil's outdated and inefficient ports the barrier to economic growth

Yang Ming chief announces rethink on ordering 'megamax' box ships

Zim beats market on growth, but warns the future 'may be complicated'

A 'dead cat bounce', as freight goes from rules-based to deals-based trade?