Freightos Limited, a leading, vendor-neutral booking and payment platform for the international freight industry, today reported preliminary key performance indicators for Q4 2024 and FY 2024, showcasing continued growth in platform usage and network expansion, with the 20th consecutive quarter of record Transactions and the highest number of new Carriers ever added in a single quarter.
Freightos continued to strengthen its digital freight platform in Q4 2024, facilitating increased transactions and expanding its global buyer and seller network.
- Transactions: Freightos facilitated 350K Transactions in Q4 2024, representing a 22% year-over-year growth and exceeding management’s expectations. This milestone marks the 20th consecutive quarter of record Transactions, driven by Freightos’ ability to attract regional and niche carriers while increasing activity from existing users.
- Carrier and Buyer Growth: Freightos expanded its carrier network to 67 carriers, up from 45 in Q4 2023 and 55 in Q3 2024. This marked the strongest carrier growth in a single quarter in the company’s history, driven primarily by the addition of regional and niche air cargo operators, many of which serve specialized markets or emerging trade lanes. This growth, together with a 14% growth in unique buyer users on the platform to approximately 20,100 by the end of the quarter, underscores the network effects of Freightos’ platform as it scales.
- Gross Booking Value (GBV): The total value of transactions processed on the Freightos platform, or GBV, reached $280M, a run rate of over one billion dollars per year, reflecting a 50% year-over-year increase, exceeding management’s expectations and driven by robust Transactions growth and sustained elevated market rates, highlighted a release.
“The strong carrier growth we delivered in Q4 highlights the freight industry’s increasing recognition of the need for digital transformation,” said Zvi Schreiber, CEO of Freightos. “By bringing on board a diverse range of regional and niche air cargo operators, Freightos continues to expand its platform’s reach and relevance. These carriers, often serving specialized markets or emerging trade lanes, are able to instantly sell their services to many thousands of freight forwarders around the world through Freightos, again proving the power of a platform. And buyers are equally excited to find supply in one place from many dozens of carriers, some of whom they had no prior relationship with.” Schreiber continued, “On another matter, I expect we will be able to announce the hiring of a new CFO next month.”