NEW YORK — Hudson Capital Inc. has announced a merger with Freight App, Inc. (Fr8App), a technology company based around transportation logistics.
The sum of the transaction wasn’t disclosed. Hudson said in a Tuesday news release that Fr8App would become a wholly-owned subsidiary of the company.
“Fr8App is a leader in transportation technology with a focus on US-Mexico cross-border shipping that provides compelling solutions to carrier and shipper partners,” said Warren Wang, chairman and CEO of Hudson Capital.
“Over the past year, Fr8App has grown its market leading solution set, broadened its shipper relationships, expanded its carrier base and greatly improved the company’s financial performance. Based on the significant growth in North American logistics market, and for Fr8App specifically, we are excited to continue supporting Fr8App and set the stage for the next phase in its evolution.”
Javier Selgas, CEO of Fr8App, said, “During 2021, we achieved many operational and financial milestones. We are excited to enjoy the privileges of being part of a public company and improve our position to capitalize on numerous growth opportunities.”
Fr8App uses its proprietary technology platform to connect carriers and shippers, offering live pricing and real-time tracking.
Incorporated in 2014, Hudson Capital Inc., formerly known as China Internet Nationwide Financial Services Inc., began business by providing commercial payment advisory, intermediary bank loan advisory and international corporate financing advisory services to small and medium size companies.
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