Logistics technology platform provider Freightos Ltd. has struck a deal with FedEx Corp. to digitize operations at the transport and logistics giant, the firm said today.
Both partners stand to benefit in the partnership, as Hong Kong-based Freightos will supply its WebCargo technology to digitize FedEx Logistics Inc., while FedEx Trade Networks provides digitized customs brokerage services for importers on the Freightos.com marketplace.
Memphis-based FedEx Logistics will launch a global rollout of WebCargo’s AcceleRate, a multi-modal rate management and sales digitization platform, and WebCargo Air, an air cargo pricing, quoting, and eBooking platform. Together, this enables instant global freight pricing for FedEx Logistics users globally, improving customer service and internal efficiencies, Freightos said.
At the same time, Freightos.com will incorporate FedEx Trade Networks’ digital customs brokerage service, saying it will enable smoother international trade for the 150,000 global importers and exporters registered on the Freightos.com shipping marketplace. The on-demand customs brokerage provided by FedEx Trade Networks will augment Freightos.com’s one-stop offering of instant price comparison, booking, and management across over 75 global logistics providers.
The announcement follows Freightos’ 2018 news that it had raised a $44.4 million investment round and planned to scale up its online international freight marketplace and to develop new financial instruments to improve transparency in shipping. Also in 2018, container shipping heavyweight CMA CGM Group became the first ocean carrier listed on Freightos’ online freight marketplace, allowing Freightos to offer online bookings, guaranteed pricing, and secured capacity on CMA CGM's China-U.S. trade lanes.