After major supply chain disruptions over the past several years, there was a need for modernization in global cargo trade. Startup company Loop is focused on unlocking profit that's trapped in the supply chain with modern audit and pay system. Loop Co-Founder and CEO Matt McKinney explains that the company is solving an important problem in which invoice costs do not always match expected contracted costs, leading to companies losing unnecessary profits and decreasing their working capital. Loop is primarily focused on over-the-road trucking, but they have also had customers asking for exposure on ocean and air.
The need for modernization in global cargo trade is clear, and Loop's modern audit and pay system is a promising solution. However, it is difficult to know how effective this system will be in the long-term. It is also unclear how Loop will be able to scale their services to meet the needs of customers who require exposure on ocean and air. It is important to keep an eye on this company to see if they can deliver on their promises.
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