Freight Technologies Inc. (NASDAQ: FRGT) Agrees to Terms with Amazon Mexico for Domestic Shipping for the Second Consecutive Year

 

• Fr8Tech, a tech company revolutionizing cross-border shipping, just announced the renewed selection of its Fr8App Platform for Amazon Mexico’s domestic shipping within the USMCA region
• Javier Selgas, Fr8Tech’s CEO, attributed this to the company’s commitment to meeting customer’s needs and continuously improving its platform
• He also noted that this decision validated Fr8Tech’s capabilities while positioning the company as the go-to solution for B2B cross-border and domestic shipping within the region
• The company is optimistic that this move will help surpass the performance achieved in the first half of the 2023 financial year

Freight Technologies (NASDAQ: FRGT) (“Fr8Tech”), a tech company reforming cross-border shipping by offering carriers increased growth opportunities and providing shippers with enhanced flexibility, visibility, and simplicity, has announced the renewed selection of its Fr8App for Amazon Mexico’s domestic shipping within the USMCA region. This marks the second year that Amazon Mexico has contracted Fr8Tech, in what the CEO, Javier Selgas, has attributed to the company’s commitment to meeting customers’ needs and continuously improving its platform.

“Our commitment to meeting customers’ needs and our continuous platform improvements have led to this exciting opportunity,” noted Mr. Selgas (https://ibn.fm/lVfzD).

This announcement comes just months after Fr8Tech announced the securing of a Request for Quotation (“RFQ”) from a leading global pharmaceutical giant, for which it was awarded 33 lanes to transport pharmaceutical goods from the U.S. to both Mexico and Canada. The project would involve moving one to three loads daily per lane, allowing for the timely and secure delivery of vital pharmaceutical products (https://ibn.fm/15wxe). It also added to the company’s growing customer base, which comprises prominent enterprise entities such as Samsung, Whirlpool, Kimberly Clark, Beat Box, and other notable market leaders (https://ibn.fm/lDgPT).

Mr. Selgas noted that Amazon’s decision to go with Fr8App, particularly during this high-demand season, validated Fr8Tech’s capabilities, having proven over the course of a year, to be a reliable and efficient platform for B2B cross-border and domestic shipping.

“Amazon’s decision to choose Fr8App during their high-demand season validates our capabilities and positions us as the go-to logistics solution for B2B cross-border and domestic shipping within the USMCA region,” he noted.

“We’re excited to work for a prominent market leader like Amazon, and we’re confident in our ability to meet their stringent standards throughout the year as they continue to expand,” he concluded.

Over the first half of the 2023 financial year, Fr8Tech achieved a 93% year-over-year (“YOY”) margin increase, nearly double the previous year. It also secured $9.9 million in additional funding, a significant milestone for the company. Its management team is optimistic that this renewed contract with Amazon Mexico will help grow these numbers, all while bolstering the brand and stamping its position as a leader in its space, particularly in the 2024 financial year.

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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