NEW YORK, March 15, 2023 (GLOBE NEWSWIRE) -- Nuvocargo, the first all-in-one digital platform focused on U.S.-Mexico cross-border trade, announced today the launch of its Customs Brokerage product. This product is aimed at streamlining customs operations between the U.S.-Mexico border; as customs clearance is a critical point in all cross-border operations, and one prone to costly mistakes and miscommunications.
The Nuvo customs product provides a unique approach to the US-MX border experience. It combines technology and in-house expertise to reduce complexity at the border by providing a single point of contact throughout the entire process. With a focus on finding efficiencies for its customers, Nuvocargo is “vertically integrating” every product needed to fully outsource supply chain management by combining Freight, Customs, and Insurance products, with Software designed for US-MX trade.
This unique approach has shown promising results. Crossing times are reduced by almost 40%* when customers work with Nuvo Customs vs. handling their customs separately. In addition, Nuvocargo has been able to generate accurate border crossing documents around 20x faster than other brokers, which helps shippers find meaningful time and cost savings and reduce delays.
Besides reducing crossing times, Nuvo Customs is committed to providing its users with the highest level of service and unmatched visibility. The product captures 7 border-specific data points, including reception and review of documents, MX and US Customs clearance status, and Exam flags; a level of detail never before experienced in the market. Being able to provide meaningful data helps Nuvo Customs users make smarter decisions and improve reconciliation, compliance, etc.
Since launching the pilot only 3 months ago, Nuvo Customs has seen exponential growth, increasing by 18x the number of customs filings for border crossings.
The customs team at Nuvocargo is led by Jay Gerard, who previously held executive positions at Flexport, Sony, and Burberry, among others. Gerard brings over 20 years of experience in customs to Nuvocargo’s customers. “Nuvo customs was designed with the needs and biggest challenges of businesses in mind, with a focus on streamlining and simplifying the border crossing experience for importers and exporters. We identified a gap in the market for a unified freight + customs solution, and we aim to become the standard for such products,” said Jay Gerard, Head of Customs at Nuvocargo.
The launch of the Nuvo Customs product is part of Nuvocargo’s commitment to modernize international ground shipments and make it easier and more efficient for businesses to ship cargo across the U.S.-Mexico border. "The Nuvo Customs product goes beyond simple customs clearance. It enables the establishment of a smooth and effective supply chain. In addition to saving time and money by streamlining the customs process, we are also enabling businesses to develop and broaden their horizons in order to pursue a growth path in Mexico," said Deepak Chhugani, CEO and founder at Nuvocargo.
With this launch, Nuvocargo has publicly launched three product offerings: Freight, QuickPay, and Customs, all wrapped in its digital portfolio. The company has seen rapid growth in attach rates for their ancillary products and customers are finding deep value in working with Nuvocargo with multiple products as a bundle to minimize vendor overhead and management, and create deeper structured data for their supply chain.
Nuvocargo expects to continue launching more fintech and software products in its mission to help shippers and carriers simplify trade across the Americas.
To learn more, visit https://www.nuvocargo.com/en.
About Nuvocargo
LatAm logistics startup Nuvocargo is the first all-in-one digital platform focused on U.S.-Mexico cross-border trade – one of the largest trade routes in the world. Modernizing a $2T industry that’s been mostly reliant on paper, fast-growing Nuvocargo combines proprietary software with a team of bilingual experts to seamlessly and transparently manage end-to-end cargo movement in a single platform. The company has the most experience on both sides of the border, and add-on services such as customs brokerage, insurance, and financing – everything a shipper or carrier needs to simplify logistics. Nuvocargo is backed by over $40M in funding from Tiger Global, QED Investors, NFX, Homebrew, and Y Combinator, among others. Nuvocargo has been recognized in YC Top Companies 2023 and as one of the 10 Most Innovative Companies in Latin America by Fast Company. Learn more at nuvocargo.com/en.
Media Contact:
Shantal Erlich
shantal.erlich@nuvocargo.com
