Flexport builds an end-to-end logistics technology platform and provides technology and services for global businesses. In May the company bought the assets of Shopify Logistics, including Deliverr. CEO Ryan Petersen said the team has made massive progress toward returning Flexport to profitability and is focused on building a long-term sustainable business. Management has emphasized strengthening the company's cash position and described its balance sheet as a "fortress" while navigating uncertain global trade. To date Flexport has raised about $2.66 billion in equity and debt. Its most recent financing from Shopify was provided as an uncapped convertible note for $260 million. Flexport Capital offers businesses flexible working capital tied to shipments processed on the Flexport Platform, using logistics data, purchase order information and inventory‑in‑transit to assess working capital needs. Its financing product serves customers across industries such as retail, industrial manufacturing and electronics. The unit has expanded geographically and in product scope, adding loan offerings in 2022 to Canada, the U.K., the Netherlands, Belgium and Luxembourg. Since its inception in 2017, Flexport Capital has financed over $1 billion in invoices for more than 500 importers and exporters across 20+ countries, and its portfolio size grew 149% year‑over‑year. The business is integrated into the broader Flexport Platform, which helped move nearly $19 billion of merchandise across 112 countries in 2021. Flexport Capital plans to use new capital to continue building its financing product, invest in client growth, support geographic expansion and develop new products. Flexport is a platform for global logistics that provides technology and services to help buyers, sellers, and logistics partners move goods. The company reported that revenue more than doubled in 2021 and that it moved nearly $19 billion in gross merchandise across 112 countries. Flexport plans to use new capital to accelerate development of its technology platform, expand into new geographies and markets, and further build an efficient, transparent logistics ecosystem. It also intends to invest in and partner with new companies in the logistics tech space to improve resilience and visibility in supply chains. The company frames its mission around making global trade easy for everyone and addressing systemic issues exposed by the pandemic. Flexport is based in San Francisco. Flexport offers full-service air and ocean freight forwarding and supply-chain management, positioning itself beyond simple price-comparison freight marketplaces. The company has begun chartering its own aircraft and says it operates four warehouses worldwide. Last year Flexport generated $471 million in revenue, up from $224.8 million in 2017, and reports some customers spend more than $10 million annually. CEO Ryan Petersen told Forbes the company employs 1,066 people across 11 offices and four warehouses, while its site lists 600 employees. The roughly 5.5-year-old company aims to compete directly with carriers such as DHL, FedEx and UPS. Flexport provides businesses with global logistics services including air freight, ocean freight, trucking, cargo insurance, customs brokerage, and inventory financing. The company secured $100M in funding, with SF Holding joining existing investors. The strategic investment is intended to help Flexport expand its operations in China and worldwide. Founded in 2013 by CEO Ryan Petersen and based in San Francisco, Flexport served more than 15,000 companies in 2017, shipping $3.8B of merchandise between 97 countries. Recently it opened new offices in Los Angeles, Atlanta, and Shenzhen and launched a private air freight service using a dedicated 747 flying twice weekly from Hong Kong to Los Angeles. The company expects to double its warehousing footprint and open new offices in Hamburg, Chicago, Taiwan, and Shanghai in 2018.

Total raised

$2.7B

Funding rounds

8

Latest round

Convertible Note

Latest activity

Jan 2024