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Startup shake up: Transfix sells brokerage business

Startup shake up: Transfix sells brokerage business
Startup shake up: Transfix sells brokerage business

NFI, a top supply chain company, has bought Transfix’s freight brokerage business. Transfix will now focus on developing software and data solutions for brokers, shippers, and carriers. NFI will be the first customer to use Transfix’s new transportation management system (TMS).

Why does this matter? Customers of both companies may benefit from improved services and new technologies, leading to more efficient and effective logistics solutions.

Sid Brown, CEO of NFI says: “We look forward to partnering with their customers and enhancing the experience for our current portfolio. As one of the largest and most diversified 3PLs (third party logistics) in the marketplace, NFI can leverage its scale and offer its existing service offerings of dedicated transportation, warehousing and distribution, and port services to the Transfix customer base.”

Transfix’s digital freight solution 

Founded in 2013, Transfix was the first tech-powered brokerage. Its Transfix Intelligent Freight Platform™ uses automation and machine learning to reduce processing costs and has supported the logistics of many top retailers, brands, manufacturers, and logistics companies.

By selling its freight brokerage business, Transfix will now focus on offering its technology as a SaaS and data solutions provider for brokers, shippers, and carriers.

ALSO READ: Nearshoring: Mexico emerging as a logistics hub

NFI’s supply chain focus 

What are the key strengths and capabilities of NFI as a supply chain solutions provider?

NFI, based in Camden, New Jersey, is a North American supply chain solutions provider. Privately owned by the Brown family since 1932, NFI has over $3.6 billion in annual revenue and employs more than 17,250 people. 

The company manages over 70 million square feet of warehouse space and operates a fleet of 4,900 tractors and 13,700 trailers. NFI offers services including dedicated transportation, warehousing, eCommerce fulfillment, brokerage, transportation management, port drayage, intermodal, global logistics, and industrial real estate. 

Additionally, NFI Ventures invests in early-stage companies aiming to innovate in the supply chain and logistics industry.

NOW READ: Melbourne researchers take AI startup to Silicon Valley

Photo Credit: Canva

About the author

Sharl is a qualified journalist. He has over 10 years’ experience in the media industry, including positions as an editor of a magazine and Business Editor of a daily newspaper. Sharl also has experience in logistics specifically operations, where he worked with global food aid organisations distributing food into Africa. Sharl enjoys writing business stories and human interest pieces.

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