Fleet, an online marketplace for international logistics founded in 2014, has announced the closing of a $4m seed funding round led by Hunt Technology Ventures, L.P. Other investors participating in this round include Placid Ventures, L.P., David S. Hunt, 1517 Fund, Latam Partners, GrowthX Fund, NFQ, Telegraph Hill Capital, amongst others.
Fleet recently launched the Fleet Quoting Marketplace, an online quoting platform that is expected to enable small and medium-sized businesses to open quote requests, to receive, compare, and accept quotes from freight forwarders.
According to Fleet, shippers who use the company to create quote requests typically save 20% on their shipping costs and receive quotes five times faster compared to using traditional methods such as calling or emailing freight forwarders.
For freight forwarders, Fleet is expected to provide a venue where they can showcase their reputation and services. Fleet plans to connect freight forwarders with customers who are ready to buy.
David S. Hunt – Managing Partner of Hunt Technology Ventures, L.P., said of the announcement, “Fleet is expediting world trade by enabling millions of small and mid-sized businesses to easily move their goods,” adding, “Fleet is the disruption that the international shipping industry has sorely needed for a long time. Using Fleet, the industry will turn from something that is complex and daunting, into a simple and streamlined transaction process.”
Fleet announced it plans to use the funding to continue developing the Fleet platform, grow its team, and expand its user base of both shippers and freight forwarders. The platform is expected to be enhanced by providing price quoting ability, financial transactions, and shipment status visibility.