Freight Technologies Inc. (NASDAQ: FRGT) Grows Client Portfolio with Grupo Solave Cross-Border Logistics Contract

  • Fr8Tech, a tech company on a mission to revolutionize cross-border shipping, has announced its appointment as a logistics solutions provider for Grupo Solave, a leader in the Blue Agave market
  • This increases a growing list of clients, including Amazon and Envases Universales, among others, adding to the company’s biggest year yet
  • With the Tequila industry expected to grow by approximately 6% per annum, Fr8Tech expects to capitalize on this growth and support Solave with the logistic requirements that come with it

Freight Technologies (NASDAQ: FRGT) (“Fr8Tech”), a tech company on a mission to revolutionize cross-border shipping, under the USMCA agreement, by offering carriers and shippers flexibility, visibility, and simplicity, just announced its appointment as a logistics solutions provider for cross-border operations by Grupo Solave. This marks a healthy addition to Fr8Tech’s growing client portfolio, which comprises Amazon and Envases Universales, among others (https://ibn.fm/oW153).

Fr8Tech will provide logistics solutions to Solave, ultimately playing an integral role in bringing its products closer to customers. As a leader in the Tequila space and a key player in the Blue Agave market, Solave is poised to reap big in an industry set to grow by approximately 6% per annum over the next ten years. With this growth comes increased demand for raw materials and logistics to get the final product to wholesalers, retailers, and consumers. Fr8Tech looks to and is well positioned to support Solave with these logistic requirements.

“We are thrilled to take on the role of logistics solutions provider for Solave, applying our advanced platform and extensive network to meet their specific logistics needs,” noted Javier Selgas, Fr8App’s CEO.

“We are proud to serve the marketplace of this iconic spirit within Mexican heritage and are positioned to support the logistic requirements of its growth,” he added.

Fr8Tech released preliminary results for the fourth quarter of the 2023 financial year in the previous month. It marked the third consecutive quarter of notable revenue growth, achieving $5 million in quarterly revenue, representing a 7.5% growth compared to the previous quarter and more than 16% growth compared to the fourth quarter of 2022. According to the company’s Chief Financial Officer (“CFO”), this demonstrated its strong execution in its core offerings for cross-border shipping and dedicated fleet services. He also reiterated his confidence in the company’s current growth trajectory, lauding the team for its efforts in adding customers and building carrier capacity while enhancing its platform’s capabilities and efficiency (https://ibn.fm/tsq4t).

For more information, visit the company’s website at www.Fr8Technologies.com and its freight matching platform information site at www.Fr8.App.

NOTE TO INVESTORS: The latest news and updates relating to FRGT are available in the company’s newsroom at https://ibn.fm/FRGT

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