Zvi Schreiber-led Freightos has unveiled a doubling of volumes and booking values as the company gears up to go public.
The container booking and payments platform is “on track” to list on the Nasdaq by the end of January after logging record transactions last year.
Freight transactions rose to 668,000 in 2022, representing a 154% growth compared to 2021.
Gross booking value (GBV) of platform transactions rose 102% to $611m in 2022.
Schreiber described the performance as “absolutely outstanding” in a year when the container shipping indices saw prices fall 90% on some trades over the year.
Freightos has logged record platform transactions for every one of the previous 12 quarters.
Breaking records
“Digital bookings of freight on our platform broke records every single quarter,” Schreiber wrote on LinkedIn post.
“This growth is exactly the energy we’re looking to keep up as we draw closer to closing on our business combination with Gesher,” he added.
In June, the company announced plans to list on the Nasdaq through a reverse merger with Gesher I Acquisition Corp, a publicly-traded blank cheque company based in Tel Aviv.
The listing is designed to raise at least $80m for new investments and result in a combined company with a pro forma enterprise value of around $435m.
Freightos operates a booking and payment system for both sea and air freight.
The company also partners with the Baltic Exchange in the production of the Freightos Baltic Index, which measures container freight rates for forty-foot equivalent unit (feu) containers.
