Zhang Joins Frete.com Board to Drive Latin American Expansion
Company - People | May 27, 2025 | Lightrock
Frete.com, the largest online freight transportation platform in Latin America, has announced the addition of Richard Zhang to its board of directors. Zhang, a co-founder and former executive chairman and CFO of Full Truck Alliance (FTA), brings extensive experience to Frete.com as it seeks to transform the regional freight landscape and accelerate its growth. Zhang is known for his role in the successful merger of Truck Alliance and YMM in China, leading to FTA's public listing with an impressive valuation. As a board member, Zhang joins a distinguished group that includes investors from Tencent, Goldman Sachs, LightRock, Oscar Salazar, and Daniel Goldberg, among others. Frete.com has shown significant growth with a Gross Transaction Value of $14.3 billion in Q1 2025 and aims for over 100% annual growth. Zhang’s appointment highlights Frete.com's strategic commitment to leveraging global freight expertise for expansion in Latin America.
Sectors
- Logistics
- Private Equity
- Technology
Geography
- Latin America – Frete.com's operations and strategic focus are centered on the Latin American market, aiming to expand and transform its logistics landscape.
- China – Richard Zhang's experience with Full Truck Alliance provides a Chinese context due to FTA's significant presence in the region.
- United States – Advisors and board members, including U.S.-based individuals, contribute to Frete.com's strategic direction, highlighting its international scope.
Industry
- Logistics – Frete.com operates in the logistics industry, focusing on freight transportation through its online platform, a central theme of the article.
- Private Equity – Lightrock and other investors are involved in Frete.com, indicating the significance of private equity in shaping the company's strategic development.
- Technology – Frete.com and FTA operate digital platforms facilitating logistics, thereby playing a vital role in the technology industry.
Financials
- 23.6 billion USD – The valuation of Full Truck Alliance during its public listing.
- 14.3 billion USD – Gross Transaction Value (GTV) reported by Frete.com in Q1 2025.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Frete.com | Target Company | Company | Latin America's largest online freight transportation platform, focusing on expanding and transforming the logistic industry in the region. |
| Richard Zhang | Board Member | Person | Co-founder and former executive of Full Truck Alliance, bringing extensive expertise to Frete.com's board. |
| LightRock | Private Equity Investor | Company | Investor in Frete.com, involved in shaping its strategic direction. |
| Full Truck Alliance (FTA) | Previous Company | Company | China's largest digital freight matching platform, co-founded by Richard Zhang, known for its significant valuation. |
| FITURE | Current Company | Company | Technology and fitness company where Richard Zhang currently serves as president. |
| Tencent | Investor | Company | One of the global investors in Frete.com. |
| Goldman Sachs | Investor | Company | A leading global investment company investing in Frete.com. |
| Oscar Salazar | Investor | Person | Co-founder of Uber and one of the investors in Frete.com. |
| Daniel Goldberg | Investor | Person | Founder of Lumina and investor in Frete.com. |
| Reid Hoffman | Strategic Advisor | Person | LinkedIn founder acting as a strategic advisor for Frete.com investors. |
| Henry Kravis | Strategic Advisor | Person | Co-founder of KKR, serving as a strategic advisor to Frete.com. |
| Eddie Leshin | Strategic Advisor | Person | COO of Coyote Logistics, providing strategic insights to Frete.com investors. |
| Jeb Bush | Strategic Advisor | Person | Former governor of Florida, offering strategic advice to Frete.com. |