Online freight broker Freightos purchased a wider variety of routes and modes of transportation in its marketplace through the acquisition of Spanish startup WebCargoNet, which maintains a database of global air-freight rates. Chief executive Zvi Schreiber said he hopes that the acquisition will provide an edge for the online international freight marketplace in an increasingly competitive market.
With the bulk of the global airfreight business still being conducted via phone by human brokers, online services like Freightos are fighting for market share against large and established players. Many online brokers are still limited to smaller shippers looking for low-cost options.
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