Freightos reports a 26% increase in transactions in the third quarter of fiscal 2024

Freightos reported a 26 percent increase in transactions to 339,000 in the third quarter of 2024.

“This exceeded management’s guidance of 323,500 to 332,500 and demonstrates the continued adoption of the Freightos platform among shippers, importers, exporters and shippers worldwide,” an official press release said.

Freightos expanded its carrier network to 55 carriers, up from 39 in the third quarter of 2023. The number of unique buyer users on the platform increased 14 percent year-on-year, reaching approximately 19,700 by the end of the quarter, it said in the message further.

“The total value of transactions processed on the Freightos platform (GBV) reached $217.5 million, up 35 percent year-on-year and significantly exceeding the expected range of $198 million to $203.5 million. “

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

“At the same time, our SaaS solutions are tightly integrated into the platform, increasing the added value we offer our customers. These efforts are not just about financial growth – they are critical to supporting the broader digitalization of global freight transport and helping our industry grow more efficiently, transparently and connected, with the Freightos platform playing a fundamental role plays.”

Freightos will report its third quarter results and fourth quarter outlook on November 25, the press release continued.