4 years ago

Zencargo Secures €35 Million in Series B Funding to Expand Global Operations

  • Zencargo, a London-based digital freight forwarder, has raised €35 million in Series B funding led by Digital+ Partners, with participation from existing investors including HV Capital

  • The company will use the funding to grow its team from 150 to 350 people over the next two years and expand internationally to the Netherlands, Hong Kong, and the US

  • Zencargo's platform provides real-time visibility of the supply chain, enabling businesses to make data-backed decisions that improve efficiency and sustainability

  • The company has now raised a total of €49 million and is targeting revenues of over €115 million for this year and over €230 million for 2022.

      • ProblemTechnology

      "Traditional freight forwarders still rely on time-consuming, manual processes, using paper, spreadsheets and email. This leads to inefficiencies and makes it difficult for businesses to make informed supply-chain decisions."

      Solution

      "Zencargo is a digital freight forwarder that uses technology to provide real-time visibility of the supply chain, helping businesses make data-backed decisions that drive up to a 4% increase in revenues, a 9% reduction in carbon emissions, a 6% reduction in transportation costs, and a 15% improvement in working capital."

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