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Nuvocargo Raises $20.5M At A $180M Valuation To Bolster Trade Between The Us And Mexico

Dec 10, 2021over 3 years ago

Amount Raised

$20.5 Million

Description

Nuvocargo, a logistics startup out to help simplify the challenges of cross-border trade, has raised $20.5 million in a round led by Tiger Global Management.

Company Information

Company

Nuvocargo

About

The company says it still had most of that cash in the bank when Tiger approached it. The startup claims to pair its technology with a “team of experts” to integrate end-to-end movement of cargo in “a single platform.” The company claims it gives its customers more visibility and better data to understand their supply chain.Let’s dig a bit deeper into this. Already, the company has revealed the first of a series of financial products it is building — QuickPay for carriers, which is essentially a cash advance product for the truckers in Nuvocargo’s marketplace. “We’ve been in a small private beta for a couple of months and the adoption has been extremely exciting,” Chhugani said. The company has tripled its team since announcing its Series A in April, from 30 to about 90.

FundzWatch™ Score

76
Medium Activity

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