Qargo, a London, UK- and Ghent, Belgium-based transport management solution for the logistics industry, raised €12m in Series A funding.
The round was led by Balderton Capital.
The new funding will be used to launch in new markets, develop the product and strengthen the engineering team to keep up with its fast-growing customer base.
Founded in 2020 by Adriaan Coppens (CEO), Joeri de Turck (CTO) and Sander de Wilde, Qargo offers a SaaS transport management solution that integrates with customers’ systems to support their software needs, helping them plan loads, optimize stops and distance, and automate administrative tasks.
Customers can process orders faster than traditional tools, auto-import PDFs and automate address lookups to make route planning and deliveries easier. The planning algorithm automatically combines loads into optimal journeys that minimise distance, duration and carbon emissions. This allows them to reduce the number of empty miles, with empty or unfilled trucks producing more emissions than all international flights combined.
In March 2024 alone, the software enabled 175,000 journeys across Europe.
FinSMEs
06/06/2024