Forto, a Berlin, Germany-based provider of digitized freight forwarding and supply chain solutions, raised $240M in funding.
The round, which would valued the company at $1.2 Billion subject to statutory closing conditions and expected to conclude in the next few weeks, was led by SoftBank Vision Fund 2, with participation from Citi Ventures and G Squared, and from existing investors including Northzone, Inven Capital, Cherry Ventures, and Unbound. Under the terms of the investment, Nahoko Hoshino will join the Forto Board as a representative for SoftBank Investment Advisers.
The company intends to use the funds to expand its geographical presence in Europe and beyond, technology platform, and customer operations.
Originally founded under the name FreightHub by Michael Wax (CEO and Co-Founder), Erik Muttersbach (CTO and Co – Founder), and Dr. Michael Ardelt (COO), Forto provides manufacturers and e-commerce brands with digital supply chain platform technologies that address the entire process stream, from offer, booking, document administration, tracking and tracing to pro-active exemption processing and analysis, supporting customers with visibility, insight, and control.
Headquartered in Berlin, Germany, the company currently has more than 500 employees with 11 locations across Europe and Asia including offices in Berlin, Copenhagen, Hamburg, Ho Chi Minh City, Singapore, Hong Kong, and Shanghai.
The company serves over 2.500 customers.
FinSMEs
22/06/2021