3 minutes

Flexport is opening the Convoy marketplace to include trucking brokers, which act as an intermediary between a shipper and a freight service provider.

A B2B marketplace for trucking logistics is expanding.

As a B2B marketplace for truckers and carriers, the Convoy platform enables them to find and book loads from vetted brokers and shippers. It connects owner-operators with companies that need loads booked and hauled. Flexport owns and operates Convoy. Now, Flexport is opening the Convoy marketplace to include trucking brokers. These brokers act as an intermediary between a shipper and a freight service provider.

Flexport launches new user class on Convoy B2B marketplace

Freight brokers can specialize in certain types of freight, such as equipment hauling on lowboys, oversize, bulk tanker, auto or other types of freight transportation.

The U.S. trucking market is made up of nearly 30,000 brokers and more than 750,000 carriers. 96% operate with fewer than 10 trucks, Flexport says.

By opening its B2B marketplace to brokers, Flexport says, the move is aimed at generating new revenue and giving the freight hauling and trucking industry more ways to book loads and business.

advertisement

“The U.S. trucking market has undergone a massive transformation since the pandemic and technology has empowered a new wave of small carriers who manage their business through their phone,” says Flexport executive vice president and head of trucking Bill Driegert. “We see a tremendous opportunity to connect that capacity to brokers, simplifying operations and lowering costs, while expanding opportunities for small carriers.”

Now, carriers and brokers can use the Convoy app to book loads at the listed rate or have the option to bid, for fleet management and managing paperwork. Other tools for shippers include access in real-time to pricing, shipment tracking, and on-time performance metrics.

Brokers can use the Convoy B2B marketplace to maximize the reach and effectiveness of their carrier operations, including:

  • Carrier negotiation vetting
  • Load status updates
  • Document management
  • Payment

“Brokers using the Convoy platform will be able to level up their operations and focus on strengthening core customer relationships and growing their businesses,” Driegert says.

advertisement

Submit a nomination

Nominate a game-changer for the Global B2B eCommerce Industry Awards from Digital Commerce 360 and the B2B Ecommerce Association.

Sign up

Sign up for a complimentary subscription to Digital Commerce 360 B2B News, published 4x/week. It covers technology and business trends in the growing B2B ecommerce industry. Contact Mark Brohan, senior vice president of B2B and Market Research, at [email protected]. Follow him on Twitter @markbrohan. Follow us on LinkedIn, Twitter, Facebook and YouTube. 

Favorite