Development of maritime transport digitalization is to be further accelerated
To complete BuyCo's offer, ODDO BHF and BuyCo will partner to build a solution together to unify the operational and financial management of international trade.
BuyCo, A Solution to Simplify the Management of Container Transportation
Founded by experienced logistics specialists, BuyCo deploys the latest technology to better service operational management of maritime transport. BuyCo offers exporters and importers a digital, neutral, innovative and intuitive platform that allows companies to plan, book, and directly monitor their international container shipments in collaboration with their various partners (customers, suppliers, carriers, shipping companies and forwarders). Founded in May 2015, BuyCo has been working to simplify, secure, and optimize their customers' maritime transportation. As a result, they gain efficiency, visibility, and therefore responsiveness and control. Thanks to a clear interface that offers a user-friendly and high-quality digital experience, BuyCo also enables their customers to reduce their external costs all while improving the satisfaction of their teams and end customers.
Strong Development Supported by Solid, Recognized Partners
Thanks to the rapid implementation of their solution, BuyCo has increased their volume fivefold between December 2019 and December 2020, despite the Covid crisis, and now manages nearly 300,000 containers per year around the world: The company has users in nearly 60 countries. To best serve their customers, BuyCo’s team will grow to over 50 employees in the coming months. BuyCo is already present abroad, especially in the Middle East (Dubai, UAE) and in North America (Toronto, Canada).
The addition of ODDO BHF Group to BuyCo's shareholder base brings the total capital invested since the company's inception to 6.5 million euros, enabling the company to continue their strong growth.
The Partnership with ODDO BHF
ODDO BHF is much more than a financial investor in this regard and will work with BuyCo to develop innovative features in the area of international financing. Great potential has been identified for improving the current process of issuing letters of credit, a financing instrument that accounts for a significant portion of global trade.
Carl Lauron, founder and CEO of BuyCo, comments: "We are delighted to welcome ODDO BHF to our shareholder base and to create commercial and technical synergies that have never been seen before: Until now, bankers work with documents issued by logisticians and check their consistency laboriously and a posteriori. Our goal is to get the players in the physical and financial supply chains to work together to make this documentation consistent from the start. We share this ambition with ODDO BHF Group, and in particular with their International Banking unit based in Germany. This partnership will further improve both the quality and scope of our service offering, to the benefit of our customers."
Florian Witt, responsible for International Banking at ODDO BHF, says: "International business is a strategic and growing segment for ODDO BHF. Our corporate clients value our expertise in international financial solutions. In this context, intelligent digitalization is playing an increasingly important role. With our investment in BuyCo, we can offer our clients a collaborative platform solution where logistics and financing of a transaction go hand in hand. We met the BuyCo team back in 2018 and have since been very impressed with the quality of their services and their customer references."