Courier Exchange

Courier Exchange: freight exchange platform for road transport in the UK

Courier Exchange is a division of Transport Exchange Group Ltd, a company established in 2000 that develops real-time decision solutions for logistics and transport companies. The platform operates as a closed marketplace where loads are posted and carriers bid on them. According to the company itself, it is the busiest freight exchange in the UK and brings together more than 10,000 active members.

How the freight exchange works

The process is structured in five steps. First, Courier Exchange verifies the compliance documentation of those requesting to join the closed network; to do so, it relies on its compliance partner Trustd, which performs checks via API and continuous monitoring technology for shippers and carriers. Then, shippers post loads indicating origin, destination and deadlines. Next, carriers bid on loads in their area or those destined for specific locations, allowing them to plan outbound, return and intermediate journeys. The platform also offers proprietary data on average rates before the carrier submits their bid. Once the shipper accepts a bid, the assigned carrier picks up the load at the agreed time and delivers it; CX tracking allows the shipper to monitor progress and receive ETA alerts. Finally, the carrier sends the shipper digital proof of delivery and invoices through the platform, so both parties see the job, the proof and the invoice on the same screen. The SmartPay tool shows when invoices are issued and when they are due, which according to the company reduces financial administrative tasks by up to 80%.

Activity volume and network reach

The platform states that more than 15,000 loads are posted every day —excluding duplicates— and that more than 450,000 loads are offered each month. It has more than 10,000 active members and a positive feedback rate of 99.2% among its members. Transport Exchange Group, Courier Exchange's parent company, reports more than 38,625 active users operating more than 60,000 vehicles and making more than 1.3 million movements worldwide, with freight exchanges established in five countries.

Services and tools for carriers and shippers

Courier Exchange organises its solutions into three main profiles: owner drivers, courier companies and freight forwarders. For owner drivers, it offers load and return journey search, earnings calculation, financial management, elimination of multidrop deliveries and network expansion. For courier companies, it adds reduction of dead miles, access to average courier rates, finding subcontractors and fleet management. For shippers, it includes finding reliable carriers, compliance verification, cost reduction, payment management and freight tracking. The platform also targets those who want to start in the industry as owner drivers or future drivers.

Tools included in all packages include a directory to find business partners, accounting with electronic proof of delivery (POD), a diary to manage jobs, vehicles and subcontractors, and a dashboard with centralised information and control. Add-ons include the driver app, the fleet app, the Freight Vision app and telematics integration. The company also has training resources such as CX Academy, courier guides, webinars, success stories and news.

Customer profile and use cases

The platform is designed for owner drivers, large courier companies and shipping companies. Testimonials on the site mention cases such as Speedy Fleet Couriers, Virtus Logistics, Red Rocket, Redhead Couriers and Simpex Express, which highlight reduced dead mileage, improved profitability and the ability to offer their customers access to a network of more than 7,000 couriers nationwide. The company also publishes success stories from companies such as Zoom Courier Services, Wick & Flame, Exvets Express and BHA Couriers.

Business structure and contact details

Courier Exchange is a division of Transport Exchange Group Ltd, with registration number 3464353. The company states that its team understands how the road transport industry operates and offers advice to those who contact the platform. The website provides a contact phone number and a postcode in London.

Location and contact

Phone: 020 8993 7100