Yahoo Finance Logistics Startup Nuvocargo Launches New Carrier Platform, Helping Cargo Carriers Gain Single View of All Loads, Streamline Invoicing and Payment
Company hires logistics veteran and former Transfix VP Jonathan Rojas to lead new carrier division
Nuvocargo Carrier Platform
NEW YORK, June 29, 2022 (GLOBE NEWSWIRE) -- Nuvocargo, the first all-in-one digital platform focused on U.S.-Mexico cross-border trade, announced today the launch of its Carrier Platform, which helps streamline invoicing and payments for motor carriers.
Nuvocargo also announced that Jonathan Rojas, a former vice president at Transfix, has joined the company as Head of Supply to lead the Carrier Sales and Operations team and execute the rollout of its Carrier Platform to customers.
In Dec 2021, Nuvocargo announced its first carrier product, QuickPay for Carriers, a cash advance product for the carriers in Nuvocargo’s marketplace. It was very well received: QuickPay's annualized run rate of transaction volume grew over 900 percent from Q4 2021 to Q1 2022, with average weekly growth since the launch of over 50 percent, and now accounts for over 40 percent of Nuvocargo transactions. Building on that success, Nuvocargo’s Carrier Platform helps carriers get paid faster, save time on invoicing and reduce friction from multiple communication points and data sources, all from a centralized and easy-to-use single source.
“After talking in-depth with our carriers, we discovered that the existing billing processes in the industry were a major point of inefficiency in their operation, leading to payment delays,” said Anaid Chacón, Head of Product at Nuvocargo. “Nuvocargo’s Carrier Platform keeps track of all invoices and load details all in one place, helping carriers streamline invoicing. On average, carriers that have adopted this solution are seeing time savings of 1-3 hours per day, giving them more time to grow their business.”
Available in English and Spanish, Nuvocargo’s Carrier Platform provides carriers with a single place to:
Upload invoices, additionals, and proof of delivery
Review all necessary information to issue an invoice and the Bill of Lading Supplement to comply with tax regulations in Mexico and the US
Access QuickPay (payment in 48 hours) in just one click
Search and manage loads serviced over a period of time
View invoices that are pending and paid
Rojas fills key new role at fast-growing Nuvocargo
In his new executive team role at Nuvocargo, Rojas reports to Nuvocargo cofounder and CEO Deepak Chhugani, leading the company’s growing Carrier Sales and Operations team as it launches the new Carrier Platform to customers. With 10+ years of transportation expertise and a background in both startups and freight, Rojas knows how to build a trucking startup for exponential growth and scale. Most recently, he was Vice President of Carrier Management and Operations at Transfix, where he helped the company scale to hundreds of employees and a ~$1B+ valuation as well as hundreds of millions of dollars in revenue. He holds a degree in Finance from the University of Central Florida.
“Carriers are at the very center of what we do at Nuvocargo and our efforts have been very focused on giving them a more streamlined experience than they can find anywhere else. Carriers are essential not only to grow our marketplace, but also delivering best-in-class service to our shippers,” said Chhugani. “On top of building user-friendly technology to streamline their operations, Nuvocargo is constantly seeking to bring unique talent to lead our efforts. Jonathan is the perfect person to lead this effort - his background in both startups and freight will undoubtedly give us an edge as we build out Nuvocargo for exponential growth and scale.”
“The US/Mexico trade lane is one of the most important in the world, but has a lot of fragmented and outdated processes,” said Rojas. “Nuvocargo’s technology is transforming the flow of goods between the two countries, and our leadership team has a unique mix of high-caliber experts from different industries and start-ups that are focused on driving innovation to this space. That combination is what drew me to the company.”
Nuvocargo closed 2021 with 5x revenue growth over 2020, and tripled its employee headcount to nearly 100. In 2022, the company is still seeing strong demand from both shippers and carriers.
To learn more, visit https://www.nuvocargo.com/.
About Nuvocargo
LatAm logistics startup Nuvocargo is the first all-in-one digital platform focused on U.S.-Mexico cross-border trade – one of the largest trade routes in the world. Modernizing a $2T industry that’s been mostly reliant on paper, fast-growing Nuvocargo combines proprietary software with a team of bi-lingual experts to seamlessly and transparently manage end-to-end cargo movement in a single platform. The company has the most experience on both sides of the border, unique access to hard-to-get routes, and add-on services such as warehousing, insurance and financing – everything a shipper or carrier needs to simplify logistics. Nuvocargo is backed by over $40M in funding from Tiger Global, QED Investors, NFX, Y Combinator, among others. Nuvocargo has been recognized in YC Top Companies 2022 and ranked the second Most Innovative Company in Latin America by Fast Company. Learn more at nuvocargo.com/en.
Media Contact:
Michelle Faulkner
617-510-6998
michelle@big-swing.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3a156d44-20d7-4168-9dec-2b955707597f
