Freightos Limited, a global freight booking and payment company, has closed its business combination with Gesher I Acquisition Corp., a special purpose acquisition company (SPAC).
Freightos connects businesses within the global freight ecosystem, including airlines, ocean liners and trucking companies, freight forwarders and importers and exporters, through a digital service that allows for real-time freight rate comparison, booking, payment and shipment management. The combined company will operate as Freightos Limited. The capital raised from the business combination looks to invest in scaling the business, increasing transaction growth and revenue and developing the technology stack, driving additional value for customers and improving margins.
“Going public through the combination with Gesher and raising capital is designed to fuel our aggressive efforts to scale our booking and payment platform and enhance our leadership position,” states Zvi Schreiber, CEO and chairman of the board of Freightos.
Oppenheimer & Co. Inc. served as financial advisor to Freightos. DLA Piper LLP served as legal advisor to Freightos. Bryan Cave Leighton Paisner served as legal advisor to Gesher.