Freight forwarder and logistics company Flexport has teamed up with BlackRock to provide $250M in financing for Flexport customers struggling to deal with the rising costs of importing goods to the U.S.
“Global trade runs on cash flow, and too many great businesses fall behind simply because they can’t fund the gap between when they buy inventory and when they sell it,” Flexport Chief Financial Officer Stuart Leung said in a release.
Financing from asset manager BlackRock will be overseen by Flexport Capital, the logistics company’s financial services arm. Flexport Capital has provided more than $2B since its 2017 inception.   
Rising global trade costs have translated into higher…