News / It's a struggle for 'digital' forwarders, with 'poster boy' Flexport losing value

© Thomas Heden

The proposed sale of ‘digital’ forwarder Forto, as well as EV Cargo, which also considers itself ‘digital’, has shone a spotlight on a sector said to be reaching maturity – or at least running out of funding. 

“The first wave of digital logistics struggles was characterised by distress, selling off, and bankruptcies, like the insolvency of Instafreight, and the collapse of Convoy, a company that had raised $1bn and was valued at $3.8bn just before facing trouble,” explained Wolfgang Lehmacher, partner at ...