Sydney company FreightExchange is looking to take its online freight capacity marketplace overseas, with support from the NSW Government.
John Barilaro, Deputy Premier and Minister for Regional NSW, Small Business and Skills, said the company, which received a $98,000 Building Partnerships Grant from the private sector–led, NSW government–backed ‘Jobs for NSW’ program, had grown 587 per cent in 2015/16, with revenue of more than $1 million and over 800 carriers and 1,700 shippers on its books.
“FreightExchange is a great example of a clever company developing technology to make NSW more efficient while creating jobs and growing the economy,” said Barilaro.
“Former management consultant and FreightExchange founder and CEO Cate Hull saw the massive amount of under-utilised capacity of trucks on Australian roads and she knew she was on to something.
“This smart online platform uses GPS tracking to take advantage of unused capacity on long-haul freight by connecting shippers with carriers and allowing them to instantly book their freight, get a price and get it moving.
“The company, which now has 12 staff and focuses on long-haul trucking, has developed apps which allow companies big and small to plug directly into the system to match unused capacity with freight orders instantly.
“After building the company from scratch, Cate is now hoping to take the company global, with a pilot set for New Zealand this month and plans to expand to Shenzhen, Singapore and Hong Kong,” Barilaro added.
Hull said the Jobs for NSW Building Partnerships grant had been a huge help in growing the business.
“To big businesses it might sound like a small amount but to us it was significant,” she said.
“We used the Jobs for NSW grant to build the product, but also to deal with the growing pains of a small company – the team has close to doubled in the past year.
“The more we can drive efficiency the better it is for NSW. The dream is to create a platform that in future orchestrates self-driving trucks and automates the buying of selling and freight capacity internationally – a global platform,” Hull said.