Local tech platform joins forces with Freelancer freight arm Freightlancer
Freight-matching consolidation sees Freightlancer, a subsidiary of Freelancer.com, snap up heavy haulage transport marketplace Loadshift for $7.7 million.
The deal throws into sharp relief the growing digital freight marketplace in Australia.
Loadshift posted earnings before interest, taxes, depreciation, and amortisation (EBITDA) of about $766,000 in FY2020, Freelancer tells the Australian Securities Exchange (ASX).
Founded in March 2007 by Phil Callaghan, Loadshift “has grown to be Australia’s largest online heavy haulage freight marketplace with 68,837 freight requests (up 26.8 per cent) for 85.8 million kilometres of freight requested in 2020, and over 73,000 loads posted in the last 12 months”.
It will align with Freightlancer.com, described as a global marketplace for freight, shipping and transport spanning from complex enterprise haulage to consumer metro deliveries, “powered by the world’s largest human labour cloud of over 50 million freelancers in 247 countries, regions and territories”.
Freelancer owns 53 per cent of Freightlancer, which now also receives $3.7 million investment from diversified industrials group Maas Group Holdings CEO and founder Wes Maas, equipment and labour services provider EMS Group CEO and founder Tom Cavanagh, and global tech venture fund Startive Ventures.
Cavanagh becomes Freightlancer chief executive as part of the move.
Cavanagh has a history in machinery and equipment ventures
“After a 15-year journey as the director of Loadshift, this represents the ideal next step,” Loadshift founder Phil Callaghan says.
“The moment is right, the family timing is perfect and the opportunity to see Loadshift’s successful model brought to the global stage by Freelancer irresistible.
“From the beginning, I have been committed to utilising technology to create a connected community of both carriers and shippers.
“When we started, there was little visibility of trucking capacity. We’ve brought that visibility to the freight community, changing the industry.
“The team and I have loved forging connections that span the breadth of Australia from coast to coast, improving the businesses and experiences of our carriers and shippers.
“We’ve interacted with this community constantly, learned what matters to them and seen day after day how Australia deeply depends on its truckers.”
Freelancer.com chief executive Matt Barrie says the company is excited to acquire Loadshift.
“As a successful digital freight marketplace that has always looked after its carriers and community, Loadshift aligns with Freelancer’s mission,” he says.
“The acquisition of Loadshift builds on Freightlancer’s momentum and continues to deepen our global pool of liquidity for the freight logistics industry, around the world.”