Flexport in talks to raise $500m in SoftBank-led deal
US freight forwarding start-up Flexport appears to be on the verge of another enormous fundraising ...
As one start-up fades, another thrives. Convoy, a two-year old Seattle-based company matching nearby and available truckers to loads, has attracted financing from Bill Gates’s Cascade Investment in a new round of funding, raising $62m. The company has already got support from Amazon’s Jeff Bezos and had raised $80m before this latest round.
The company offers much the same service as Uber Freight – but it appears that the smart money is not going to Uber, distracted as it currently is by a host of other issues.
It is as yet unclear what sort of volumes Convoy is shifting, but sales volume is doubling every quarter, and customers include companies as big as Unilever. Bloomberg has got the story.