An international booking and payment platform reported a record 114,000 increase in its platform’s transactions in the last quarter of 2022 and up to 100% business value compared to the same period in 2021, Logistic Update Africa Reported on January 12, 2023.
According to the article, the company recorded 211,000 transactions in Q4 of 2022, up from 97,000 in Q4 of 2021.
“This brought the total freight transactions booked across the platform in 2022 to 668,000, exceeding internal targets for both quarterly and annual targets and representing a 154 percent growth compared to 2021,” the company stated in an official release.
According to the announcements, the growth is attributed to demand resulting in users booking across the platforms and supply characterized by carriers offering their services to the platform’s users.
“The number of unique buyer users digitally booking freight services across the Freightos platform grew 37 percent compared to Q4 2021, reaching 15,600. Carriers selling on the platform, primarily on WebCargo, grew to 35 in Q4 2022, a 25 percent growth from the same quarter in the prior year.
“Freightos has experienced record platform transactions for every one of the previous 12 quarters, continuing growth in the fourth quarter of 2022 despite the global freight market contracting,” the company detailed in the press release.
The company also received a gross booking worth $611 million in 2022, about 100% higher than in 2021, despite the slumping market prices. Meanwhile, the company is planning to release a full financial analysis for 2022 and that of the last quarter by April 2023.