FLEXPORT eyes expansion
FLEXPORT has raised a Series B round of $65m to fund its global expansion, this brings the company’s total capital raised to $94m.
As part of its expansion, FLEXPORTis building a new operating system for global trade that will aim to unite countries all over the world in a seamless web.
Paul Graham, Y Combinator co-founder and FLEXPORT’s first investor, said: “FLEXPORT is taking on automating shipping, just imagine the potential energy to be released there.”
“It is 12% of global economy and it is much of the backpressure constraining the other 88%. The potential energy is all the greater because this domain is currently so backward.”
The funding was fulfilled by existing investors such as Founders Fund, Bloomberg Beta, Felicis Ventures, First Round Capital, Susa Ventures and Yuri Milner. As well as a new investor, Joe Lonsdale of 8CV.
It will aim to help FLEXPORT hire new staff members and retain talented once, with employees speaking more than 35 languages to help continue the company’s rapid international expansion.
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