Flexport Inc., a leading digital logistics company, has partnered with BlackRock Inc. to provide additional financing options for its clients struggling with rising tariffs and trade-related cash flow issues. The $250 million investment from BlackRock-managed funds will double Flexport’s lending capacity, according to CEO Stuart Leung.
The partnership aims to support companies facing increased global trade costs, particularly in the wake of new U.S. tariffs. With American tariffs ranging from 10% on UK imports to 50% on goods from India, Flexport’s customers are seeking alternative financing options such as term loans and asset-based lines of credit.
The four-year collaboration with BlackRock will enable Flexport to offer financing across various points of its clients’ supply chains, including purchase orders, inventory pickup, freight movement, warehousing, and final delivery. With the increased funding, Flexport Capital can continue to support businesses navigating these challenging market conditions.
Flexport’s financial services arm has already provided over $2 billion in loans since 2017, and the company ranks among the top logistics providers in North America. The partnership with BlackRock demonstrates Flexport’s commitment to helping its clients manage rising costs and ensure business continuity.
Source: https://www.ttnews.com/articles/flexport-blackrock-financing