The Yield Lab Latam announces co-investment with international funds in Brazilian LogFintech GoFlux

GoFlux, a leading freight marketplace, has concluded a Series A round of R$30 million. The company will use the funds to develop its artificial intelligence technology further and expand into new markets in Brazil and abroad.

Brazilian LogFintech GoFlux, a technology platform that optimizes freight networks by reducing costs, deadlines, and gas emissions, concluded its Series A round of US$6 million - the equivalent of R$30 million. The financing was finalized two months ago and has just been announced to the market. The round was led by North American Capria Ventures, which invests in technology companies in emerging markets, in addition to participation from The Yield Lab Latam, which joined the round in partnership with other international investors such as SP Ventures, Blue Impact Supply Chain Ventures, Reflect Ventures and Arrebol Capital.

GoFlux offers a freight marketplace with real-time bidding connecting shippers with cargo carriers. LogFintech digitizes the entire logistics process, managing everything from hiring freight from shippers to the payment process for carriers. In addition to the cost of shipping and agility, a key differentiation factor is the compliance, integrity, and security that the company offers its customers, since the entire process is protected, preventing companies from fraud.

According to Rodrigo Gon?alves, founder and CEO of GoFlux, the highlight of this round was the international interest, as around 90% of investors are international. In 2023, the platform transacted 42 million tons of cargo, approximately US$1.5 billion in freight transacted. “The supersized round demonstrates global interest in our unique business model, which has the capacity for growth within Brazil and abroad,” he says.

GoFlux has a large presence in agribusiness but is ready to expand into other segments. "Several industries have a significant demand for transport and, although they have different characteristics from agribusiness, we are ready to serve them - our solutions can be used to contract services, calculate carbon neutrality or understand future behavior through AI", explains Rodrigo.

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The capital will be allocated in three areas:

1) fuel NaConta, the Company’s fintech which is powered by a wholly owned FIDC fund used to advance receivables to transportation companies. According to Rodrigo, one of the biggest pain points for trucking companies is working capital, therefore GoFlux is providing credit to improve the cash flow for 3,000+ trucking companies registered in the platform: “We provide access to capital for transport companies when they need it most which is essential for the sustainability of the country’s transportation industry”.

2) further develop artificial intelligence (AI) in GoFlux View, a product integrated with the contracting platform that provides predictive intelligence and a view of freight behavior in the market in the future. “Through this solution, companies can think one step ahead when it comes to freight pricing, which will help companies manage risks and market volatility” adds the CEO.

3) improve the platform's functionalities and expand the team to enter new verticals and regions. “We want to expand our platform in other important markets such as food, pulp and paper, civil construction, and steel. The industrial sector is full of opportunities”, details Gon?alves.

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For The Yield Lab Latam, participating in an investment like this is related to the company's vision of a connected future in search of more efficiency, aggregating solutions and sustainability. “It's more than a logistics solution, we're talking about transparency, business, transactions that offer compliance and help companies with regulatory issues. Through the platform, intelligent data analysis can be used to add value to the client's business, all with concern for the environmental impact. GoFlux has a solid team of experts who have made a difference, and it is a great pleasure for us to add them to our portfolio”, says Kieran Gartlan, Managing Partner at The Yield Lab Latam.

“The year 2024 will be exciting for GoFlux and will mark an inflection point - the company will accelerate its growth and achieve profitability by the second half of the year. Additionally, the company will leverage its first-mover advantage and disruptive model to expand into new regions, including Argentina, Paraguay, Uruguay, Mexico and the United States. Considering that in the USA, the main freight platforms mainly serve industrial segments, with little coverage in agribusiness, we see a business opportunity for GoFlux and we will work towards this objective", concludes the CEO, Rodrigo Gon?alves.

About Go Flux

Headquartered in the city of S?o Paulo, GoFlux is a Logfintech that emerged in 2018, led by a seasoned founding team with deep experience in logistics. The team built a fully digital platform for quoting, negotiating, contracting, and managing freight. The solution has revolutionized how freight is contracted, thus boosting competitiveness in the transport segment, especially in agribusiness. Find out more at www.goflux.com.br