It turns out that major shareholders of Freightos are also large logistics companies— FedEx, Qatar Airways, and IAG Cargo. Thre are others, such as Singapore Exchange, who participated in Freightos’s Series C round of financing. There has been a policy of keeping major shareholders hidden.
Is this bad? Not necessarily, but there could be conflicts of interest. Some customers won’t care, but others might if their interests are not being addressed.
Freightos operates an online international freight marketplace [Wikipedia]. It also sells multimodal freight, and booking automation for carriers and freight forwarders. The Wikipedia article does a good job of explaining what they do and what acquisitions they have made. They’re a freight broker and carrier, with a software platform, though they started out as a software company.
Complicated ownership structures are not uncommon in business. Whether they influence how they do business in the small is a different question. At present we don’t hear of any customer issues.
Partners’ business relations should always include checking on whether ownership affects the partner’s way of doing business with you.
By Alex Lennane 27/05/2022Freightos’ shareholders unveiled: does transparency really matter? – The Loadstar