# PayCargo

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/paycargo

- Industry: Financial Services
- Headquarters: Coral Gables, US
- Website: www.paycargo.com
- Total disclosed funding: $160M
- Latest round: Series B (Jun 15, 2021)
- Investors on record: 1

## About

PayCargo, LLC is a digital payment platform designed to enhance cargo movement by streamlining transactions and optimizing payment processes for logistics and shipping industries worldwide.Founded in 2007 in Coral Gables, US by Juan Dieppa and Sergio Lemme, PayCargo, LLC specializes in providing a payment platform for the freight shipping industry. The company has completed three deals to date, with a notable Series C round of funding raising USD 130.000 mn led by Blackstone Group on June 15, 2022. Eduardo Del Riego serves as the CEO of the company.PayCargo offers a comprehensive online payment platform designed to facilitate faster cargo movement and optimize payment processes within the freight shipping industry. The company's core service enables businesses to make instant payments to over 5,000 logistics vendors, including major ocean carriers and terminals globally. This platform streamlines Accounts Payable workflows by utilizing Artificial Intelligence and allows users to pay invoices with various options, including credit cards and flexible payment terms up to 45 days. PayCargo's vendor network spans key international markets, enabling same or next-day cargo releases, significantly reducing the traditional wait time for freight payments. By centralizing payments and providing a flexible API for direct integration, PayCargo effectively meets the needs of logistics providers and businesses involved in cargo shipping across North America, Europe, Asia, and Latin America.PayCargo generates revenue through transaction fees associated with its payment platform, facilitating B2B transactions between shippers and logistics vendors. The platform allows clients to make payments without the need for traditional banking resources, thereby reducing the complexities and costs associated with check processing and cash handling. Clients typically utilize the service on a fee-per-transaction basis, which can vary depending on the specific services rendered. Additionally, PayCargo partners with logistics vendors and offers subscription-based services that enhance payment visibility and management for their partners. This transactional structure supports a diverse array of clients, from freight forwarding companies to large logistics service providers, ensuring a consistent revenue stream through effective engagement with their extensive vendor network.In June 2022, PayCargo, LLC raised USD 130.000 mn in Series C funding led by Blackstone Group. The company plans to utilize this funding to expand its platform, which may include upcoming new products aimed at improving user experience and payment efficiency in the logistics sector. PayCargo is also looking to expand into new geographic regions, targeting markets in Europe and Asia by 2025 to enhance their global presence and service offerings.

## Funding rounds

- Series B, Jun 15, 2021, $125M — Insight Partners
- Series A, Sep 29, 2020, $35M — Insight Partners

## Investors

- Insight Partners (https://capitalatlas.ai/funds/insight-partners) — Series A, Series B