Vancouver-based online freight marketplace Freightera has enhanced its popular free platform with value-added paid memberships and a rewards program.
Late in 2019, the company surveyed its top shippers and found they were interested in paid plans if Freightera was to offer them. So that’s what Freightera did. Freightera’s team completed the implementation at the end of the second quarter, despite the added stress of COVID-19 disruption.
In June 2020, Freightera hit all-time highs in bookings as platform revenue surged 40% over May, exceeding pre-COVID numbers. Immediately following the launch of paid memberships, Freightera hit new daily highs for both bookings and gross profit.
“I am pleased to announce our latest release that enhances your experience and makes bookings more rewarding and fun,” noted Freightera CEO Eric Beckwitt, updating Freightera’s 12,700+ business shippers. “It also expands our plans and services beyond classic free Freightera with more choices for everyone.”
Freightera has grown at around 240% per year since 2015, making it the third fastest-growing company in B.C. in 2019 according to Business in Vancouver (2019). The company was named to the 2019 and 2020 Ready to Rocket lists and is a finalist in the Growth Company of the Year category in the upcoming 2020 Technology Impact Awards.
Freightera has raised over $9 million to date and last year Beckwitt confirmed that Freightera is seeking a listing on the TSX Venture Exchange through a process similar to an initial public offering.
“Our intention to be a publicly listed company,” Beckwitt told FreightWaves.