COMPANY PROFILE

CargoX

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Integrated logistics, technology, and financial solutions.

São Paulo, BrazilFounded 2013Transportation

Valuation $1–2.5B Last recorded · 2021

Revenue $50–100M Latest reported FY

Headcount 100–500 Current team size

Total funding $100–500M Disclosed equity funding

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About CargoX

CargoX operates as a key brand within the Frete.com holding group, focusing on digital solutions for carriers in Brazil. Founded in 2013 by Argentine economist Federico Vega, along with Dmytro Kormakov and Liana Ohno, the company was established in São Paulo to address inefficiencies in the Brazilian trucking industry. Vega's inspiration came after a bicycle tour across South America, where he observed the high frequency of truckers operating with empty or partially empty loads. Initially dubbed the "Uber of trucks," CargoX started as a marketplace connecting shippers with a network of independent truckers to reduce idle capacity.

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In November 2021, following a $200 million Series F funding round led by SoftBank and Tencent, CargoX and its partner company FreteBras merged under a new holding entity called Frete.com, which achieved unicorn status with a valuation over $1 billion. This restructuring repositioned CargoX to focus specifically on providing technology and digital transformation services for transport companies. The Frete.com ecosystem now comprises three main units: FreteBras for connecting freight to truckers, FretePago as the financial arm for payments and credit, and CargoX for carrier digitalization.

CargoX's offerings include full truckload (FTL) transport management, dedicated freight desks, automated document issuance (CT-e, MDF-e), and cargo insurance. The company utilizes data intelligence and machine learning to optimize logistics networks, reduce operational costs, and increase visibility. It also provides financial solutions like credit for carriers and early payment options for shippers. The business model operates on being an asset-light transportation company, owning the network rather than the trucks, which provides flexibility. Through its services, the company aims to enhance efficiency, increase driver income, and lower freight costs for shippers.

Source: Dealroom company data