Freightos’ WebCargo acquires Air Freight Bazaar

April 12, 2019: Freightos company WebCargo has acquired Air Freight Bazaar, a leading regional air cargo rates and sales platform based in Chennai.

The move combines WebCargo's advanced air cargo rates, sales, and eBooking platform, used by over 1,400 leading forwarders, with Air Freight Bazaar's market share of 300 leading regional air forwarders. The current team will remain on board as employees of Freightos India. Air Freight Bazaar customers will receive access to WebCargo's existing platform, including access to on-demand air rates, dynamic pricing and eBooking with airlines like Lufthansa Cargo. In addition, the acquisition sets the stage for future regional expansion of Freightos' suite of digital freight sales and management platforms.

"Our vision has always been to help India's logistics providers improve with advanced technology," said Jose George, co-founder, Air Freight Bazaar. Another co-founder, Vinay Sethia of Air Freight Bazaar added, "With Webcargo, we can offer our customers improved technology, access to over 300 airlines, and eBooking. We are also excited to represent WebCargo and Freightos in India."

"Air Freight Bazaar has been a regional leader in freight digitalisation, making them a natural fit. Our initial focus in India will be on further automation for local air freight forwarders and collaborating on dynamic pricing and eBooking. We are excited to bring even more efficiency to India's air cargo market," said Zvi Schreiber, CEO, Freightos. Additional details of the acquisition are undisclosed.

WebCargo is the most advanced digitisation platform for logistics service providers. WebCargo Air is the leading platform for live air cargo rate distribution, bookings between hundreds of airlines and 1,400 forwarders. The digital eBooking partners include Lufthansa, and forwarders such as Panalpina. WebCargo Multimodal is the leading platform for enterprise freight forwarders to manage rates and automate sales, spanning ocean, air and land. Customers include Hellmann, Nippon Express, CH Robinson, FedEx Logistics and many more.

WebCargo joined Freightos in 2016, the world's largest digital freight platform for the trillion-dollar international shipping industry. Founded by entrepreneur Zvi Schreiber, Freightos is a logistics technology pioneer with a worldwide presence, and has raised $94.4 million from leading venture funds, including GE Ventures and the Singapore Exchange.