Amazon Acquires Customs Broker and Cloud Technology Startup INLT
INLT, a licensed customs broker with the ability to file entries anywhere in the United States has been acquired by Amazon for an undisclosed amount.
Helping Amazon Merchants Import Goods
As reported by Reuters, Amazon.com Inc has bought technology startup INLT for an undisclosed amount,
The transaction that will help Amazon merchants on its online marketplace more easily import goods into the United States.
The firm, with around a dozen employees based in Los Angeles and Philadelphia, makes software for sellers to manage costs and customs clearance of cross-border shipments.
Seattle-based Amazon said it will offer INLT’s cloud-based computing technology to its merchants.
“INLT is a smart, nimble team that is helping companies simplify and lower the cost of importing goods into the U.S.,” an Amazon spokeswoman said in a statement.
“We’re excited to work with them to develop the next generation of solutions for their customers and Amazon selling partners.”
Amazon is looking to expand the services it offers merchants to add tools for complicated cross-border sales processes, which sellers largely needed to manage on their own.
According to Crunchbase, INLT was founded in 2017 and has raised $1 million to date.
INLT said on its website that Amazon had acquired the company, “we have been acquired by Amazon and look forward to working with them to develop the next generation of solutions for our current customers and Amazon Selling Partners.”
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