ConsolFreight is a SaaS freight technology provider that empowers the digital transformation of the shipping industry. The founding team combines 50+ years of experience running successful freight forwarding businesses in the U.S., Latin America, and Europe. Our services expand from offering a marketplace for freight forwarders and procurement of logistics services, to digital contract management solutions for freight forwarders and carriers to trade finance solutions. The ConsolFreight ecosystem currently counts on several partnerships with renowned freight forwarding networks such as X2 Logistics Networks, Forward Together, Globalink, and has secured more than 600 freight forwarders as exclusive trade lane providers.
|Asset Type||Cargo & Freight Forwarding Invoices|
Please give a brief history of the company and, if applicable, group structure.
ConsolFreight advances working capital finance to stakeholders involved in international trading of goods and services. For the trade finance transactions we are advancing capital to shippers and collecting from the buyers. When financing freight forwarding invoices we will advance funds to freight forwarders and collect from shippers. Our services expand from offering a trade finance marketplace to procurement of logistics services and digital contract management solutions. ConsolFreight’s Series 4 will be the first revolving pool following the successful launch of Series 1 and Series 2 that financed solely freight forwarding invoices and Series 3 which was a blended pool of cargo and freight forwarding invoices.
Please give an overview of the legal structure.
Consol Freight LLC (“ConsolFreight”) has launched ConsolFreight Pilot LLC (Series 4) (the “Issuer”), a Delaware series limited liability company, which will offer for sale to investors tokens, corresponding to certain payment obligations owed to the Issuer by various Buyers in connection with international trade transactions and various freight forwarders in connection with factoring and reverse factoring transactions.
How many full-time equivalent team members do you have and what do they do?
We have 7 full time team member between Marketing, Operations, IT, Finance and Strategy
Have you sold equity? Are you venture funded, if so please describe the previous rounds, money invested, and lead investors.
We got a seed round last year. The investor is heavily involved in the logistics and international trade industries.
Describe the asset collateral that you seek to finance.
Cargo and Freight Forwarding Invoices
Describe your previous track record related to this business proposal.
What is the average collateral asset size?
Average Cargo Value: $80,000
Average Freight Invoice Value: $7,000
Describe the risk of the assets you are proposing. How do you evaluate and manage that risk?
ConsolFreight employs a rigorous due diligence process to mitigate risk associated with financing freight forwarding invoices and international trade transactions. The risk assessment is detailed in the Executive Summary of each deal.
Please describe any conflicts of interest or potential conflicts of interest or any relationship that could compromise or be viewed to compromise the decision making of the company.
ConsolFreight, the Issuer and four of the potential Freight Forwarders (each a “Controlled Entity” and together, the “Controlled Entities”) participating, are under common ownership. As a result, circumstances may arise in the management of the Controlled Entities in which the interests of one or more of the Controlled Entities may conflict with the interests of one or more of the other Controlled Entities.
Are there or have there in the last 10 years, been any criminal, civil, regulatory or administrative proceedings against (i) the Company or any of its principals or (ii) the product in any similar such matters including reparations, arbitrations, and negotiated settlements? If so, please describe.
Are there any further disclosures that interested party should be aware of?