BlueX Trade | APEA - Asia Pacific Enterprise Awards Asia Pacific Enterprise Awards
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FAST ENTERPRISE CATEGORY

BlueX Trade

Information about the Company
BlueX Trade’s (BlueX) vision is to connect global B2B trade online. As a B2B payment and pay-later platform, BlueX enables supply chain players worldwide to bring their freight transactions online through the BlueX Pay Platform, while also providing AI-driven insights for their global freight shipments, thus enabling more profitable logistics for over 20,000 carriers, freight forwarders, and shippers.

With a mission to be the category-leading payment solution for cross-border B2B freight logistics and trade online, BlueX empowers small and medium-sized businesses with a Pay-it-Later service for their freight and cargo invoices, in which buyers get flexible pay-later options, and sellers get paid instantly. BlueX currently offers 3 main products including BlueX Pay-it-Later, BlueX Payments, and BlueX eCommerce.

Innovative Corporate Culture & Growth Initiatives
BlueX has grown revenues year-over-year. As of current, the company has grown 45x over the last 8 months compared to the same time period last year. One of the factors contributing to BlueX’s rapid growth is due to its high-performance culture based on open communication, empowerment, and a flat organizational structure. Since the majority of the leadership team comes from Silicon Valley, California, BlueX has worked to incorporate the better parts of that startup mentality into how the company operates. To facilitate smooth collaboration in a fast-paced work environment, BlueX creates a culture of trust and transparency and encourages dialogue across and within teams. BlueX also emphasizes that all managers have an open-door policy to enable employees to raise concerns or issues with ease.

Combining the efforts in open communication, BlueX regularly reviews market conditions and product development to ensure the products address customer needs. For example, after BlueX launched the BlueX Pay payments platform, it received feedback that shippers wanted a better way to manage their cash flows during the pandemic. As a result, a Pay-it-Later product was launched in less than six months. Shortly thereafter, as freight prices dropped, BlueX introduced a cargo financing product to enable U.S. importers to finance their inventory purchases. In addition to its ability to move fast and innovate, BlueX also ensures that everyone in the company understands the purpose behind the products.

Regular monthly company meetings are held where the CEO and management team share the strategic vision and priorities with updates on revenue, P&L, and other key metrics within the company. The meetings are a time for employees to ask any questions they might have. By being transparent, BlueX impacts each team member’s contribution by enabling them to have a better understanding of the bigger picture.
Achievements & Impact
Strategically located in Taiwan and the United States, BlueX started with the digitization of ocean freight by providing whitelabel solutions to carriers and freight forwarders. It built Evergreen Marine’s eCommerce platform, which enables shippers to search for spot rates and book containers online. Having worked with supply chain players across the world, BlueX witnessed how businesses struggled under economic volatility caused by the pandemic and expanded their product line to build specialized fintech solutions for the global supply chain. The products, BlueX Payments and Pay-it- Later, help buyers and sellers send and receive funds globally, on an all-in-one platform. Built for small-to-medium-sized U.S. importers, the Pay-it-Later solution enables enterprises to better manage their cash flow by providing them with an alternative financing solution for their logistics or cargo payments. Vendors are able to receive funds quickly, while buyers can pay 30 to 60 days later. Moreover, both products are available in English, Traditional and Simplified Chinese, and all onboarding processes are supported by bilingual specialists, to allow for ease of use by vendors in Asia. BlueX currently has over 30 employees and is on track to increase revenues by 15x for 2022.

Future Direction
BlueX will continue to revolutionize the logistics industry with fintech solutions that empower global supply chain players. The product line will evolve and offer more options for cash flow management and payment methods, supporting cross-border transactions while growing the network of payers and vendors. The one-stop Pay-it- Later platform will also include AR factoring, along with integrations into third-party accounting software. In addition to the recent receipt of the SOC 2 Type II certificate, BlueX will continue to lead the industry in providing secure, cross-border payments and alternative financing solutions.

FAST ENTERPRISE CATEGORY

BlueX Trade

Information about the Company
BlueX Trade’s (BlueX) vision is to connect global B2B trade online. As a B2B payment and pay-later platform, BlueX enables supply chain players worldwide to bring their freight transactions online through the BlueX Pay Platform, while also providing AI-driven insights for their global freight shipments, thus enabling more profitable logistics for over 20,000 carriers, freight forwarders, and shippers.

With a mission to be the category-leading payment solution for cross-border B2B freight logistics and trade online, BlueX empowers small and medium-sized businesses with a Pay-it-Later service for their freight and cargo invoices, in which buyers get flexible pay-later options, and sellers get paid instantly. BlueX currently offers 3 main products including BlueX Pay-it-Later, BlueX Payments, and BlueX eCommerce.

Innovative Corporate Culture & Growth Initiatives
BlueX has grown revenues year-over-year. As of current, the company has grown 45x over the last 8 months compared to the same time period last year. One of the factors contributing to BlueX’s rapid growth is due to its high-performance culture based on open communication, empowerment, and a flat organizational structure. Since the majority of the leadership team comes from Silicon Valley, California, BlueX has worked to incorporate the better parts of that startup mentality into how the company operates. To facilitate smooth collaboration in a fast-paced work environment, BlueX creates a culture of trust and transparency and encourages dialogue across and within teams. BlueX also emphasizes that all managers have an open-door policy to enable employees to raise concerns or issues with ease.

Combining the efforts in open communication, BlueX regularly reviews market conditions and product development to ensure the products address customer needs. For example, after BlueX launched the BlueX Pay payments platform, it received feedback that shippers wanted a better way to manage their cash flows during the pandemic. As a result, a Pay-it-Later product was launched in less than six months. Shortly thereafter, as freight prices dropped, BlueX introduced a cargo financing product to enable U.S. importers to finance their inventory purchases. In addition to its ability to move fast and innovate, BlueX also ensures that everyone in the company understands the purpose behind the products.

Regular monthly company meetings are held where the CEO and management team share the strategic vision and priorities with updates on revenue, P&L, and other key metrics within the company. The meetings are a time for employees to ask any questions they might have. By being transparent, BlueX impacts each team member’s contribution by enabling them to have a better understanding of the bigger picture.
Achievements & Impact
Strategically located in Taiwan and the United States, BlueX started with the digitization of ocean freight by providing whitelabel solutions to carriers and freight forwarders. It built Evergreen Marine’s eCommerce platform, which enables shippers to search for spot rates and book containers online. Having worked with supply chain players across the world, BlueX witnessed how businesses struggled under economic volatility caused by the pandemic and expanded their product line to build specialized fintech solutions for the global supply chain. The products, BlueX Payments and Pay-it- Later, help buyers and sellers send and receive funds globally, on an all-in-one platform. Built for small-to-medium-sized U.S. importers, the Pay-it-Later solution enables enterprises to better manage their cash flow by providing them with an alternative financing solution for their logistics or cargo payments. Vendors are able to receive funds quickly, while buyers can pay 30 to 60 days later. Moreover, both products are available in English, Traditional and Simplified Chinese, and all onboarding processes are supported by bilingual specialists, to allow for ease of use by vendors in Asia. BlueX currently has over 30 employees and is on track to increase revenues by 15x for 2022.

Future Direction
BlueX will continue to revolutionize the logistics industry with fintech solutions that empower global supply chain players. The product line will evolve and offer more options for cash flow management and payment methods, supporting cross-border transactions while growing the network of payers and vendors. The one-stop Pay-it- Later platform will also include AR factoring, along with integrations into third-party accounting software. In addition to the recent receipt of the SOC 2 Type II certificate, BlueX will continue to lead the industry in providing secure, cross-border payments and alternative financing solutions.