Business, Forwarding, Freight News

So far, so good for high-tech forwarder

[ June 1, 2020   //   ]

Freight forwarding and supply chain finance company Beacon has raised over $15 million in its first-round Series A fundraising round, with investors including Amazon founder Jeff Bezos and US venture capital firm 8VC. Beacon was founded in 2018 by former Uber executives Fraser Robinson and Dmitri Izmailov, both former Uber executives, along with Pierre Martin, previously at Amazon. It offers ocean, air and road freight, together with supply chain finance, accessed and managed on a single platform through Artificial Intelligence and other automation technologies. It says that its 72-hour financing service for importers can solve the problem of suppliers demanding payment from importers before goods are shipped.