News Articles

High Growth Exit for SODA

06/11/2013 13:00

FindaTruckLoad have experienced rapid growth in the 16 months the company has been in SODA’s incubation programme and now joins the Alumni programme as a high growth exit.

With more than 800 transport operators and 680 clients using its website, FindaTruckLoad is now New Zealand’s largest truck transportation marketplace.
FindaTruckLoad has grown its team from two to five full-time plus another two part-time employees, tripled their revenue to just under $3M and grew 220% during their incubation with SODA. 
Having proven its model in the New Zealand market, FindaTruckLoad plans further expansion and growth into global markets.
This year they are expanding their offering into other verticals, including livestock, domestic freight, and international shipping. 
Co-founder Andrew Bishop says they’re catching their breath with the success of it all but have plans to continue to grow further.  “I am aware we’re still scratching the surface in New Zealand.”
FindaTruckLoad introduces massive efficiencies into the traditional transport marketplace. By using their online services both customers and transport companies save time and the cost of connecting and agreeing on a price.
By bringing large numbers of customers to one platform, FindaTruckLoad saves transport companies marketing and advertising costs but most importantly, FindaTruckLoad's efficient matching of loads with empty trucks leads to reductions in use of roads, fuel consumption, emissions, and better utilisation of labour and capital. This translates to lower prices for customers and higher profits for transport companies.
FindaTruckLoad has a vision to modernise the transportation industry by leveraging Platform as a Service (PaaS) technology and supporting transport operators to become digitally savvy and comfortable using online services.
Founders Andrew Bishop and Walter Ormsby both originate from the transport industry so are well positioned to make this change happen.
According to SODA's Business Growth Manager, Petr Adamek, FindaTruckLoad is a model example of a company that took full advantage of the SODA’s business growth programmes.
"They have demonstrated all the traits we are looking for in an assisted company. Their solution is high-value added, scalable, has export potential, adds to the competitiveness of New Zealand’s economy and their team was coachable and open to experimenting with different ways of doing things”, says Petr Adamek.
FindaTruckLoad have been exposed to a range of advisory services offered at a subsidised cost thanks to the public/private partnership support from SODA and its partners. The support offered by SODA included design thinking - to improve user experience, marketing and sales, financial, legal, recruitment and technology-related mentoring.
"The support from the team at SODA has been great. They have introduced us to tools we have found essential for the growth of our business”, says Andrew Bishop.
There are still challenges on the road ahead for FindaTruckLoad with emerging new players in the industry that represent opportunities for collaboration and a driving force for greater specialisation.
Internationalisation of the service will be a complex project in which SODA will continue to be involved as part of its SODA Growth Service offering for mature companies.
As part of SODA’s Alumni programme, Andrew, Walter and their team will have access to quarterly sessions with mentors and events hosted by SODA.

Trucking honours

08/12/2014 13:00

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