Flexport, a digital-oriented freight forwarding company, has raised USD 260 million from ecommerce company Shopify in an uncapped convertible note agreement.
The investment bolstered Flexport's financial confidence as it continues to build its end-to-end logistics technology platform for global commerce.
Analyst QuickTake: This investment expands upon Shopify's initial financial involvement with Flexport, which began in May 2023 with an undisclosed investment. Concurrently, Shopify divested the majority of its logistics operations, including fulfillment services provider Deliverr to Flexport.
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