PayCargo, a Coral Gables, Fla.-based logistics payments and data infrastructure platform, raised a new investment of up to $130M from funds managed by Blackstone Growth (BXG).
BXG’s investment will support the company’s continued expansion both domestically and internationally, development of new products, as well as potential growth opportunities through M&A.
Led by Eduardo Del Riego, CEO, PayCargo provides a cloud-based payments network that enables payers to quickly and securely pay air and ocean carriers, maritime ports, ground handlers, freight forwarders, and customs brokers, among others. The company integrates with over 50 leading Transportation Management Systems (TMS), Enterprise Resource Planning (ERP), and Terminal Operating Systems (TOS) entities across various transport modes: Ocean, Air, Rail, and Trucking.
Profitable since an early stage, the company continues to invest in software updates, development, and enterprise-grade security to support this hyper-growth. Its innovative new tools include real-time customer reporting and invoicing, as well as new workflow tools to streamline partial payments and reconciliation, advanced payments, and automated refunds in any currency.
FinSMEs
15/06/2022