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Paycargo

“Can a freight-payments network become the end-to-end financial operating system for global logistics — owning payments, embedded credit, AP automation, and compliance for every node in the supply chain?”

Founded2007
HQCoral Gables, FL, United States
Total raised$290M+
Latest roundSeries C, June 2022
IndustryVertical SaaS / Logistics & Freight Payments
The story

Founded in 2007 as a niche electronic payments clearinghouse for the air freight industry, PayCargo progressively expanded to cover ocean, rail, truck, customs, and warehouse payments. The company remained bootstrapped for over a decade before securing its first institutional round in 2021. The embedded credit arm (PayCargo Finance / PayCargo Capital) was spun up in 2017 and backed by a formal lending partnership with Evolve Bank & Trust in 2021, embedding short-term trade credit directly into the payment workflow. The Series C in 2022 signalled an ambition to become the full financial OS for global logistics — moving from payment facilitation into AP automation, AI-powered invoice processing, and data analytics.

Last 12 months
2024
Product timeline
2007
PayCargo founded as an electronic freight payment platform for air and ocean carriers.· pivot
2017
PayCargo Finance, LP established as a separate fintech entity providing embedded credit for freight payments.· lending
2021
Raised Series A ($35M) from Insight Partners, first institutional funding, processing ~$4B in cargo payments annually.· banking
2021
PayCargo Capital partnered with Evolve Bank & Trust to launch the PayCargo Line of Credit for freight forwarders and cargo owners.· lending
2021
Raised Series B ($125M) led by Insight Partners to expand cloud-based payments network globally.· banking
2022
Raised Series C ($130M) from Blackstone Growth to expand geographies and build out financial and business data products.· banking
2024
Launched AI-powered AP Automation module with logistics-trained invoice extraction and workflow logic.· pivot
Regulated entities
1
regulatory licence held by Paycargo
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
2 layers disclosed in Paycargo’s embedded-finance stack
Lending
Evolve Bank & Trust (lending partner)PayCargo Finance (15/30/45-day deferred payment)PayCargo Line of Credit ($50k–$5M)PayCargo Credit
Sponsor bank
in the full report
Accounting gap: significant
1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.