Business

Edenred's logistics startup Freto raises BRL 22.5 million round aiming to expand in LatAm

With the new round, Freto is now independent from Ticket and controlled by the Corrêa da Silva and Stumpf families

Thomas Gautier, Freto's new CEO. Photo: Courtesy/Freto
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Founded two years ago in Brazil as a solution to simplify road logistics by Edenred‘s Ticket, the marketplace for the freight market Freto announced it has raised BRL 22.5 million in its first Seed round. It also announced a new operational phase, now independent from Ticket.

Freto connects freight demand with truck drivers. It has more than 125,000 drivers and 300,000 autos registered. It intermediates, daily, 3,500 contracts for the transportation of 150,000 tons of cargo.

In 2020, the startup‘s turnover nearly tripled, it says, without disclosing the amount. Since the beginning of the pandemic in Brazil, downloads of the Freto app have increased by 30%.

READ ALSO: How the Brazilian startup CargoX is helping small carriers to maintain the transport of essential goods

From the venture capital round that brings new controllers, the startup appoints Thomas Gautier as its new CEO. From now on, the company is controlled by the Corrêa da Silva and Stumpf families.

The round also included the Galló family, represented by Christiano Galló, co-founder of Quartz Investimentos and Edenred Capital Partners, Edenred’s venture capital fund.

READ ALSO: Logistics: Brazil’s SK Tarpon leads BRL 500 million investment in NSTech and announces its merger with Praxio

Now, Edenred Capital Partners will only support the startup in the logistics ecosystem in Brazil, in which it is present with the Repom brand, and then back the Latin America‘s expansion.

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