Vendor-neutral global freight booking platform, Freightos, has acquired Shipsta, a leading freight-tender procurement platform, expanding its capabilities in freight digitisation.

The acquisition enhances Freightos’ existing spot pricing, quoting, and booking services by adding tender procurement, a segment covering 50-70% of the air and ocean freight market.

Freightos says this move aims to strengthen its market position and support its goal of achieving positive Adjusted EBITDA by 2026.

Freightos chief executive, Zvi Schreiber, said: “This acquisition is a strategic milestone for Freightos, enabling us to advance our vision of digitising the freight industry end-to-end. Customers will love the joint offering.”

Shipsta’s team, led by Christian Wilhelm, will continue driving product development and innovation under the Freightos umbrella. “Joining forces with Freightos marks a thrilling new chapter for Shipsta,” said Wilhelm. The acquisition will be financed through a mix of cash and equity, with Shipsta expected to contribute $800,000 to Freightos’ 2024 revenue and $4-5 million in 2025.

Freightos chief financial officer, Ran Shalev, said: “This acquisition provides us with immediate cross-selling opportunities for incremental growth while aiding our path to positive Adjusted EBITDA by the end of 2026.

“This acquisition strengthens our market position and positions us well for future growth and success.”

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