Goldman Sachs, Soros Bet on the Uber of Brazilian Trucking
- CargoX links truckers with companies, guarantees payments
- Startup tackles fractured industry with tech mentality
This article is for subscribers only.
Brazilian truckers still get much of their business off of handwritten placards.
The antiquated and inefficient system was ripe, low-hanging fruit to Federico Vega. While cycling from Patagonia to Brazil, the Argentine met truckers who complained of spending most of their time looking for freight, receiving low wages, and dealing with disorganized transportation companies that sometimes reneged on payment.