Flexport takes on supply chain financing, backed by Wells Fargo

Flexport confirmed it had raised $110 million in Series C funding, bringing its post-money valuation to $910 million, Tech Crunch reports.The new cash will provide Flexport the opportunity to expand its services beyond freight booking, into trade financing, with the help of new-backer Wells Fargo Strategic Capital.The goal, according to CEO Ryan Petersen, is to create a "seamless web of commerce." The company already uses digital tools for freight brokerage, but now also seeks to help their clients fund their purchases within the same platform. In addition, the cash will be used to buy more warehouses.