Startup Adds Regulatory Licenses Through Acquisition of Atlanta Brokerage
Nuvocargo, a startup freight forwarder and customs brokerage, acquired Atlanta brokerage Oncarriage, the company said in a news release. Nuvocargo, which launched publicly on March 12, described itself as “the first digital freight forwarder and customs broker for U.S./Mexico trade.”…
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The purchase allowed Nuvocargo to enter the market faster than expected, it said. Oncarriage is “a traditional freight forwarder and customs broker that already held key government licenses in USA that Nuvocargo required -- including one that normally takes up to three years to obtain,” Nuvocargo said. The acquisition allows Nuvocargo “to save years of regulatory hurdles to launch and begin serving shippers,” it said.