You are currently viewing PayCargo, a Logistics Payments Startup, Nets $130 Million From Blackstone

PayCargo, a Logistics Payments Startup, Nets $130 Million From Blackstone

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PayCargo, a Logistics Payments Startup, Nets $130 Million From Blackstone Growth – WSJ

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The startup, which raised cash despite a crumbling stock market, says Blackstone’s logistics connections could prove valuable as it tries to expand globally

The Garden City terminal in the Port of Savannah, Ga. In recent years, investors have pumped capital into startups that use data and analytics to improve supply-chain efficiency, though recent stock market tumult may have cut into that.

Photo: Stephen B. Morton/Associated Press

PayCargo LLC, a startup that offers a payments and data insights platform for logistics companies, raised $130 million as it expands into new regions across Asia, the Middle East and Latin America.

The Coral Gables, Fla.-based company tapped funds managed by Blackstone Growth, a division of investment firm Blackstone Inc., for the Series C financing. PayCargo was drawn to Blackstone for its investment ties to the logistics and warehousing world, which could help in the company’s expansion, said PayCargo Chief Executive Eduardo Del Riego.

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