Finance
BlackRock, Flexport Team Up on $250 Million in Trade Financing
Steeper global trade costs are boosting demand from Flexport’s customers for term loans.
Photographer: Lina Selg/BloombergBlackRock Inc., the world’s largest asset manager, is teaming up with Flexport Inc. to expand the digital logistics platform’s financing options for companies facing higher tariff costs and other trade-related strains on cash flow.
The $250 million from BlackRock-managed funds and accounts will double Flexport’s lending capacity, Flexport Chief Financial Officer Stuart Leung said. The freight company’s financial services arm, Flexport Capital, has provided more than $2 billion since it started in 2017.