Freightos reports 26% increase in transactions in Q3FY2024

Total value of transactions reached $217.5 million, an increase of 35% year-over-year.

Freightos reports 26% increase in transactions in Q3FY2024
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Freightos reported a 26 percent increase in transactions at 339,000 during the third quarter of 2024.

"This surpassed management’s guidance of 323,500– 332,500, demonstrating the continued adoption of Freightos’s platform by freight forwarders, importers, exporters and carriers globally," says an official release.

Freightos expanded its carrier network to 55 carriers, up from 39 in Q32023. The number of unique buyer users on the platform increased by 14 percent year-on-year, reaching approximately 19,700 by the end of the quarter, the release added.

"The total value of transactions processed on the Freightos platform, or GBV, reached $217.5 million, reflecting a 35 percent year-over-year increase, significantly exceeding the anticipated range of $198– 203.5 million."

Zvi Schreiber, CEO, Freightos says: “The KPIs we delivered this quarter reflect not only the continued growth of our platform but also the critical role digital solutions are playing in the transformation of the freight industry. As more buyers and sellers join the platform and transaction volumes rise, we see clear network effects driving further engagement.

"At the same time, our SaaS solutions are tightly integrated with the platform, enhancing the value we deliver to customers. These efforts are not just about financial growth – they are essential to supporting the broader digitalisation of global freight, helping our industry become more efficient, transparent and connected with the Freightos platform playing a fundamental role.”

Freightos will announce the third quarter results and outlook for the fourth quarter on November 25, the release added.

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