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paycargo

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Company Research Report: PayCargo, LLC



Company Overview



  • Name: PayCargo, LLC

  • Mission of the Company: To revolutionize the efficiency of the worldwide movement of goods and material shipped via land, sea, or air through the use of PayCargo’s proprietary online payment solution. The mission is to work within the freight shipping industry to facilitate the delivery of cargo via a secure, cost-effective, and patented payment platform to improve the speed and profitability of the customers' businesses.

  • Founded: 2008

  • Founders: No information available

  • Headquarters: 201 Alhambra Cir, Suite 711, Coral Gables, FL 33134

  • Number of Employees: No information available

  • Revenue: No information available

  • Key People:

  • Eduardo Del Riego (President & CEO)

  • Juan C. Dieppa (Chief Operating Officer)

  • Thomas Vieweg (Chief Growth Officer)

  • Jorge Gracia (Chief Legal Officer)

  • Doug Schmidt (Chief Technology & Information Officer)

  • Marta Ramirez (Chief People Officer)

  • Adrie Reinders (CEO, PayCargo International)

  • Carolina Demi (Interim Chief Financial Officer)

  • What the Company is Known For: PayCargo is known for being the leading financial platform for moving money and vital remittance information between payers and vendors in the logistics industry. It greatly reduces payment costs and accelerates the release of cargo through its online platform.


Products



  • Payer Platform

  • Description: A comprehensive platform that allows payers to make payments to all their logistics vendors in one place.

  • Key Features:

  • Instant payment to logistics providers.

  • Reduced payment costs.

  • Simplified payment management.

  • Vendor Platform

  • Description: Platform for vendors to receive payments faster and manage their receivables.

  • Key Features:

  • Real-time visibility into payments.

  • Faster release of goods.

  • Improved cash flow and efficiency.

  • Ship & Pay

  • Description: A module that facilitates seamless cargo payment and management.

  • Key Features:

  • Integration with various logistics modules.

  • Streamlined payment process.

  • Mobile App

  • Description: Allows users to manage payments on the go.

  • Key Features:

  • Mobile access to all payment functionalities.

  • User-friendly interface.

  • Accounts Payable Automation

  • Description: Automates the accounts payable process for logistics companies.

  • Key Features:

  • Automation of transactions and payments.

  • Integration with existing ERP systems.

  • OSRA – Compliant Solution

  • Description: Ensures compliance with the Ocean Shipping Reform Act (OSRA).

  • Key Features:

  • Regulatory compliance.

  • Automated tracking and reporting.

  • PayCargo Finance

  • Description: Provides financial solutions to payers and vendors to manage cash flow.

  • Key Features:

  • Credit solutions.

  • Cash flow management.

  • API Integration

  • Description: Allows integration with third-party systems and platforms.

  • Key Features:

  • Seamless API integration.

  • Enhanced operational efficiency.


Recent Developments



  • New Products Launched:

  • Freight-Pay for FIATA Members: A new payment platform specifically for FIATA members launched on July 1, 2021.

  • New Features:

  • New PayCargo Interface: Upgraded on April 13, 2021, delivering a better user experience and maximum value.

  • Partnerships:

  • PayCargo and Rippey AI: Partnership formed to bring innovation to the logistics payments network (February 29, 2024).

  • Integration with APM Terminals: Allows payments for APM Terminals Los Angeles Pier 400 (February 15, 2024).

  • Integration with HMM, Total Terminals International, and ZIM Integrated Shipping: Enhances payment processes and cargo release times.

  • Strategic Partnership with Seed Group: To innovate financial services in the UAE’s logistics sector (March 31, 2022).

  • Partnership with Air Cargo Belgium: To use PayCargo’s platform for member and event delegate fee collection (February 21, 2022).

  • Partnership with E2open: To expedite the freight payment process (February 2, 2022).

  • Acquisitions and Investments:

  • Series C Round Funding: Raised $130 million in June 2022 with Blackstone Growth to fund expansion and new product development.


This concludes the detailed market research report for PayCargo, LLC. This report is intended to provide comprehensive insights into the company's operations, product offerings, and recent developments.
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