Logistics-payments and data-infrastructure platform PayCargo has announced a new investment of up to $130 million from funds managed by Blackstone Growth (BXG).
“PayCargo is a category leader, operating at the intersection of several of our highest-conviction investment themes — including the continued proliferation of electronic payments, the digitization of the supply chain, and the modernization of business-to-business payments,” said Vini Letteri, senior managing director and head of financial services for Blackstone Growth. “We believe that these attractive tailwinds, combined with the strength of PayCargo’s offering, positions the company well for its next phase of growth.”
Blackstone, through its private-equity, infrastructure and real estate businesses, has invested significantly in the broader logistics, supply-chain and ecommerce space, including acquiring a leading port operator in North America and more than 1.1 billion square feet of warehouse