Freightos begins trading as a public company
26 / 01 / 2023
Photo: Number1411/ Shutterstock
Freightos has completed its merger with acquisition company Gesher and has commenced trading as a public company on the Nasdaq stock exchange in New York, US.
The global freight booking and payment platform entered into a definitive merger agreement with Gesher in June last year.
The combined company is operating as Freightos Limited.
Ordinary shares and warrants of Freightos will trade on the Nasdaq under the ticker symbols “CRGO” and “CRGOW”, respectively.
Freightos raised over $80m in capital through the transaction.
Zvi Schreiber, chief executive and chairman of the board of Freightos, said: “Going public through the combination with Gesher and raising capital is designed to fuel our aggressive efforts to scale our booking and payment platform and enhance our leadership position.”
During 2022, the company facilitated nearly 700,000 digital booking transactions, representing over $600m in Gross Booking Value, said Freightos.
This represents 54% growth in transactions compared to 2021.
The capital raised from the business combination will be invested in further scaling the business, to increase transaction growth and revenue and to further develop the technology stack, to drive additional value for customers, and improve margins.
