CargoX Revenue, Valuation & Funding (2024)

CargoX is one of the leading providers of blockchain-based electronic trade document solutions, introducing trust in the digital economy.

The CargoX Platform for Blockchain Data Transfer (BDT) makes it possible to create, sign and transfer electronic trade documents, reducing manual paperwork and administrative burdens.

The platform was developed with the goal of digitalising bills of lading and other electronic trade documents, and facilitated the first blockchain-based electronic bill of lading being used in practice.

Since achieving that milestone, CargoX has added support for several types of electronic bills of lading, and was the first public blockchain-based eBL provider to receive approval from International Group of P&I Clubs (IGP&I). It has also been collaborating on developing future standards with major shipping & logistics organisations, including DCSA and FIATA, as well as SWIFT and the International Chamber of Commerce.

The CargoX Platform for BDT is integrated as a blockchain document transfer gateway with the Egyptian single window system for foreign trade that includes advance cargo information (ACI).

CargoX is currently collaborating on implementing customs and trade systems in Uganda and Abu Dhabi, as well as working on the fintech space with banks on new blockchain-based solutions.

The CargoX Platform is used by 125,000 businesses and organisations worldwide. They used it to process more than 7 million electronic documents.