São Paulo, Brazil — Frete.com (Fretebras), the second-largest digital freight platform in the world, proudly announces that Richard Zhang has joined its Board of Directors. Zhang, currently president of fitness tech company FITURE, is a founding team member, former Executive President and Chief Financial & Investment Officer of Truck Alliance, the largest digital freight matching platform in China. He led the merger between Truck Alliance and YMM, the second largest digital freight matching platform in China, to form Full Truck Alliance (FTA) — also known as Manbang Group — the largest freight platform globally, and assumed the role of Chief Financial & Investment Officer, culminating in its successful public listing on the New York Stock Exchange (NYSE: YMM) in June 2021, with a valuation of approximately $23.6 billion.
After serving on Frete.com's Advisory Board since 2020, Richard Zhang now officially joins the company's Board of Directors, alongside a distinguished group of global investors. The board includes leading institutions and prominent individuals such as Tencent, Goldman Sachs, LightRock, Oscar Salazar (Co-Founder of Uber) and Daniel Goldberg (Founder of Lumina). Additionally, Reid Hoffman (Founder of LinkedIn), Henry Kravis (Co-Founder of KKR), Eddie Lashin (COO of Coyote Logistics) and Jeb Bush (Former Governor of Florida) serve as strategic investor advisors to Frete.com.
Frete.com reported a Gross Transaction Value (GTV) run rate of USD $14.3 billion in Q1 2025, driven by a robust network of 75,000 active shippers and 900,000 active carriers. The company is on pace to deliver over 100% year-over-year growth this year. The appointment of Richard Zhang to the Board underscores Frete.com's strategic commitment to accelerating its expansion across Latin America, while bringing essential global freight expertise as it continues to transform the logistics landscape in the region.