On November 10, 2021, Frete.com announced the close of a $200 million funding round led by SoftBank and Tencent. The round brings the Brazil-based Frete.com to a valuation worth over $1 billion. The platform uses digital software to help shippers and carriers to increase safety and productivity when hiring operators. The digital dashboard also reduces paperwork and increases the safety of both goods and carriers through real-time monitoring. With the capital, Frete.com aims to invest in product development and technology to improve the match between cargo and trucks, increase safety, reduce paperwork, and make the ecosystem more sustainable.
Wilson Sonsini Goodrich & Rosati represented Frete.com in the transaction. The team that advised Frete.com includes Matt Squires, Craig Sherman, Jose Corte-Real, John Delaney, and Samantha Pelto.