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Sector
Financials
Size
Large Cap
Market Cap £5.98bn
Enterprise Value £5.76bn
Revenue £591.5m
Position in Universe 278th / 6094

Singapore Exchange leads $44.4 mln investment in Freightos

Mon 17th September, 2018 11:30am
TEL AVIV, Sept 17 (Reuters) - Freightos said on Monday it
raised $44.4 million in a funding round led by Singapore
Exchange (SGX)  SGXL.SI  to further scale its online
international freight marketplace.
    Since its launch in mid-2016, Freightos’ marketplace has
expanded from price comparison to instant booking, online
shipment management, tracking and communication.
    The company said it has a network of over 1,200 logistics
providers. Its database drives the Freightos Baltic Index (FBX),
a container freight index in collaboration with the Baltic
Exchange, which is part of the SGX group.  urn:newsml:reuters.com:*:nL8N1S2433 
    Together with Freightos, SGX will explore the development of
financial instruments, beginning with enhancements to the FBX
index shifting to daily reporting from weekly.
    Freightos is headquartered in Hong Kong with a base of
operations in Jerusalem -- where the CEO sits -- and an R&D
centre in Ramallah. It has raised $94.4 million to date.
    New and existing Freightos investors including General
Electric Ventures and Israel's ICV and Aleph joined the latest
investment round.

 (Reporting by Tova Cohen
Editing by Steven Scheer)
 ((tova.cohen@thomsonreuters.com; +972-9-899-0222; Reuters
Messaging: tova.cohen.thomsonreuters.com@reuters.net))
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