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Max Lock FleetPORTLAND: January 24, 2018. Fleet, an online shipping marketplace, has secured a US$10 million Series A round of financing led by Lufthansa Cargo plus existing and new investors including UPS, Hunt Technology Ventures, UP2398 and 1517 Fund.

The startup, founded by 22-year-old Max Lock (right), has raised a total of US$14 million since its launch in 2014 and the new round will enable the company to expand, increase the features and functionality of its product and focus on business development.

The platform provides shippers with an option to select ocean carriers, airlines, trucking companies and warehouses to create a personalized end-to-end supply chain team of participants.

Fleet estimates the digitalization of the booking, payment and fulfillment process can save a company shipping five to over 100 consignments a month "up to $30,000 and 800 hours annually" in costs.

Lufthansa Cargo's CCO Alexis von Hoensbroech has joined Fleet's board of directors and represents not only an investor but also a partner to help launch a new Fleet airfreight option. "This new funding enables Fleet to accelerate our platform and bring new features and functionality to enhance our customers' experience," said Lock.

"Fleet is a perfect match for us as the company combines innovative and visionary thinking with a strong intrinsic motivation to improve air cargo booking and shipping efficiency and, finally, our customers' overall experience," noted Lufthansa Cargo CEO Peter Gerber. "We expect substantial learnings {sic) with regard to our product and service portfolio. Thus, we are sure that Lufthansa Cargo and Fleet will mutually benefit from sharing concepts and ideas."

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