Quicargo continues to grow and tripled in turnover in the first half of 2020
By Jerome Dingeldein
July 21, 2020 • 8 min read
The digital freight network Quicargo reports an increase in gross turnover of almost 200% in the first half of 2020 compared to h1 2019. This trend shows that Quicargo is able to continue its hypergrowth that started at the end of 2019. The second quarter of 2020 was characterised by the COVID-19 pandemic which has accelerated market demand for digital solutions. This also applies to the transport and logistics sector.
In this article, we’re going to discuss:
Impacts on the second quarter of 2020
Quicargo indicates that the following factors had a significant impact on the results of the second quarter:
“We see a strong increase in demand for our digital platform from both shippers and carriers. There is more freight supply on the one hand and a larger carrier network on the other hand. This increase on both sides of our platform creates an enormous flywheel effect as the advantages of a digital transport solution become even stronger when demand and supply increase at the same time. As a result we expect the growth to continue or even to further accelerate in the second half of 2020.”
Sam Houwen, Chief Commercial Officer (CCO) and Co-founder at Quicargo
Statistics H1 2020
| Turnover |
|---|
| 169% increase in turnover Q2 2020 vs Q2 2019 |
| 200% increase in turnover H1 2020 vs H1 2019 |
| Number of transactions |
|---|
| 136% increase in the number of transactions Q2 2020 vs Q2 2019 |
| 167% increase in the number of transactions H1 2020 vs H1 2019 |
| Active Shippers | Carrier registrations |
|---|---|
| 90% increase in the number of active shippers Q2 2020 vs Q2 2019 | 229% increase in the number of registered carriers Q2 2020 vs Q2 2019 |
Outlook for Q3 2020
There is a very strong pipeline with new shipper leads that we expect to materialise in Q3 2020. Over the last quarter we noticed that new shippers were more reluctant to test new transport partners due to COVID-19.
Now that shippers are more aware of the implications of COVID-19 we expect that they will use Q3 2020 to accelerate the implementation of new strategies and innovations. Quicargo will continue to benefit from the increasing demand for digital solutions within transport and logistics, which has been accelerated by COVID-19.
Quicargo is also working on a number of new features and services in order to further strengthen its market position in the Benelux. A good example is the recent launch of the possibility to place domestic shipments within Belgium on the platform. We expect to announce more new features in due course. Stay tuned!
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