Logistics payments and data infrastructure platform PayCargo has announced a new investment of up to $130 million in Series C round from funds managed by Blackstone Growth (BXG). "Like Blackstone, we share the same mission and vision – serving the needs of our customers by building the largest independent freight payments network. Blackstone's experience in the logistics, supply chain, and e-commerce space will be invaluable for PayCargo as we continue to expand globally." PayCargo's cloud-based payments network enables payers to quickly and securely pay air and ocean carriers, maritime ports, ground handlers, freight forwarders and customs brokers. PayCargo had secured a $125 million Series B investment from global venture capital and private equity firm Insight Partners on June 15, 2021.

Source: The North Africa Journal June 15, 2022 15:11 UTC