Startup Brasileira de Logística CargoX levanta $ 10 milhões do Goldman
Saiu no Wall Street Journal o resultado de negociação onde o escritório assessorou a CargoX na parte jurídica da Due Dilligence junto à Goldman Sachs. É com imensa satisfação que contribuímos para o crescimento de nossos clientes e investimento de capital no país.
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Brazilian Logistics Startup Raises $10 Million From Goldman, ex-Uber Exec
CargoX intends to serve as ‘Uber for trucking’ firm connecting freights and truckers
By TELIS DEMOS
July 20, 2016 10:14 a.m. ET
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A São Paulo, Brazil-based startup says it is raising $10 million in a round led by Goldman Sachs Group Inc. to take on trucking in Brazil and other markets.
CargoX, founded by a former J.P. Morgan Chase & Co. banker, recently launched a network in Brazil to help truckers find cargo for empty trips and find the most efficient routes, aiming to emulate how Airbnb Inc. connects people with empty homes to travelers.
With the new funding, set to be announced Wednesday, it now counts Goldman, Oscar Salazar—who was part of the early team that helped build Uber Technologies Inc.—and asset manager Valor Capital Group LLC among its backers. The company has raised $14 million in total since starting last year.
The company claims some 150,000 truck operators in its network, including 1,000 trucks contracted to move fruit for the Olympics starting in August in Rio de Janeiro.
Federico Vega, the CargoX chief executive who began his career as an investment banker for J.P. Morgan in London, also recruited programmers from the bank who built pricing models.
‘If we collect enough data, we can create a lot of efficiency and stop trucks from coming back empty.’
—Oscar Salazar, CargoX investor
“Pricing freight is like the currency market; there is little transparency and wide fluctuations,” said Mr. Vega in an interview. “We think we can build a multibillion dollar company in Brazil, and we plan to expand internationally.”
The startup’s backers argue that Brazil, though currently mired in a deep recession and political turmoil, is still fertile ground for startups. Brazil’s Bovespa index has rallied 31% so far in 2016, as some investors bet on the longer-term future, though analysts have warned the gains may be short-term.
“The stresses in the Brazilian economy have created opportunities for us to invest in great companies,” said Hillel Moerman, co-head of Goldman Sachs Private Capital. CargoX, he said, is “helping the Brazilian logistics market become more efficient.”
Goldman’s Private Capital group uses the investment bank’s capital to back growing companies, including startups such as Clarizen, a collaboration software firm.
“If we nail it, we can create economic development,” said Mr. Salazar, who left Uber in 2011 and invests in startups. “If we collect enough data, we can create a lot of efficiency and stop trucks from coming back empty.”
CargoX also aims to use new financial technologies to make it easier to for companies sending goods to pay for and insure their shipments.
Fonte: Wall Street Journal
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