For the past several years, Freightos has been riding the digitalization of the global freight industry.
But even after four years — and 16 consecutive quarters — of increases in transaction volume, it’s still pleasantly surprised at how well it’s doing.
Following a record 286,900 transactions on its digital platform in the fourth quarter of 2023, Freightos says it exceeded management expectations for the full year as the annual number of transactions surpassed 1 million for the first time.
The company includes in transaction volume all real-time global freight-rate comparisons, booking, and shipment management transactions.
Freightos Q4 transaction volume surges 36%
In addition, Freightos said Q4 transaction volume surged 36% over the year-earlier quarter, as Q4 gross booking value increased 10% to $187.5 million. It said the number of buyers on the Freightos platform rose 12% year over year to 17,600.
For the full year, the number of transactions surged 53% to 1.02 million. Gross booking volume increased 10% to $671.7 million.
Freightos says its digital platform supports clients’ supply chain operations by “enabling real-time procurement of ocean and air shipping across more than 13,000 importers/exporters, thousands of freight forwarders, and dozens of airlines and ocean carriers.”
Importers and exporters using the Freightos platform include such companies as Electrolux, Bridgestone, Anheuser-Busch InBev, Briggs & Stratton, and Parker Baby Co.
Freightos also provides shipping data through such services as the for the Frieghtos Air Index for air cargo information, and the Freightos Baltic Index, a daily benchmark of container shipping prices.
Freightos has scheduled its Q4 and full-year earnings call for Feb. 26.
Paul Demery is a Digital Commerce 360 contributing editor covering B2B digital commerce technology and strategy. [email protected].
Sign up for a complimentary subscription to Digital Commerce 360 B2B News, published 4x/week. It covers technology and business trends in the growing B2B ecommerce industry. Contact Mark Brohan, vice president of B2B and Market Research Development, at [email protected] and follow him on Twitter @markbrohan.Favorite