Fracht Group, an international freight forwarder with operations in 70 countries and over 140 offices worldwide, has entered into a joint venture partnership with YLOAD, the Romanian start-up that created the first transport marketplace in Eastern Europe. Following the partnership, Fracht Group through Fracht Romania took over YLOAD’s shipping operations, while the Romanian start-up will focus on the automation and digitalization of the logistics segment within Fracht Group in Eastern Europe, then globally.
Fracht Romania targets investments of approximately 10 million euros in Eastern Europe, starting with Romania, the Republic of Moldova, Bulgaria, and continuing with Serbia, Macedonia and other countries in the region. Also, Fracht Group aims for 100 million euros turnover in the region by the end of 2025.
In partnership with Fracht Group, YLOAD will begin the digitalization of transport operations, initially in Eastern Europe and then globally, both land, sea and air, for all Fracht customers, with the new YLOAD Network platform offering a suite of functionalities aimed at both transparency and optimization of transporter processes as well as easier management and cost efficiency of up to 30% for clients with transport needs. YLOAD Network digital platform offers customers the opportunity to monitor all land, air and maritime transport data in one place, easy to manage and accessible to anyone.
“The YLOAD team convinced us that it is the right strategic partner for us in Eastern Europe and beyond. All Fracht Romania customers will benefit from the YLOAD Network software, through which they will be able to track costs, transports, documents in real time, and even make payments. Thus, not only Fracht Romania employees will be able to use our platform for better efficiency and synchronization of services, but also customers will have access to the details of the transport during its duration, including being able to see how much they have optimized costs. The connection of trucks with ships and planes will lead to an improvement of the entire logistics market in Eastern Europe and together with the integration with the port of Constanța is an important pillar in this process”, said Sorin Nicolae, Operational Director for Maritime Transport, Fracht Romania.
YLOAD is a start-up based on artificial intelligence and was founded in 2019 by Alexandru Huzău, a specialist with 15 years of experience in IT and online marketing.
In the four years since its launch, YLOAD platform has attracted over 15,000 companies in the field of transport and investments of over three million euros, and it will launch a Series A investment round in the near future.
“The fact that Fracht Group, a global business with almost 70 years of experience in the field, has chosen a start-up to be its partner to digitalize transport in Eastern Europe and beyond, is a success that gives us a lot of confidence. We convinced them through our vision, the devoted and young team that managed in a short time to create this software for a field where the need for digitalization, transparency and synergy is very high”, said Alexandru Huzău, founder and CEO of YLOAD.