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Digital road freight forwarder Sennder raises $160M Series, plans European expansion

Digital road freight forwarder Sennder raises $160M Series, plans European expansion

Sennder, a big digital street freight forwarder based mostly out of Germany, has raised $160m in Series D financing. The spherical was led by an unnamed social gathering, however spherical contributors included Accel, Lakestar, HV Capital, Project A and Scania. To date, Sennder has raised greater than $260m, permitting it to put declare to a possible $1bn valuation.

Sennder instantly connects enterprise shippers with trucking firms, thus disintermediating the standard freight mannequin. It says it should transfer over 1 million truckloads this 12 months. So far it’s focused on the profitable European market. In June 2020 it merged with French competitor Everoad and purchased Uber Freight’s European enterprise final September. The European logistics and freight sector has a market measurement of $427bn.

Sennder competes with giant incumbents like Wincanton and CH Robinson in addition to different startups reminiscent of OnTrac in Spin, and Instafreight.

The entire digital freight forwarding market is booming. Only final November, Germany’s Forto, a digital freight forwarder raised one other $50 million in funding taking its whole raised to $103 million. And in 2018 FreightHub, one other European digital freight forwarder, raised $30 million in Series B financing.

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Digital freight forwarder Forto raises one other $50M in spherical led by Inven Capital

Sennder’s new funding will imply it might probably increase in European markets. It already companions with Poste Italiane in Italy, in addition to Scania and Siemens, and is now supplying transport companies to over 10 organizations listed within the German DAX 30, and 11 firms comprising the Euro Stoxx 50.

Since its founding in 2015 by David Nothacker, Julius Köhler and Nicolaus Schefenacker, the corporate has grown to 800 staff and 7 worldwide workplaces.

David Nothacker, CEO and Co-Founder of Sennder, mentioned: “We at the moment are a longtime business participant on equal phrases with different extra conventional sector pioneers, however have maintained our founding spirit. As a data-driven firm, we contribute to creating the logistics business match for a sustainable future; guaranteeing transparency, flexibility and effectivity within the distribution of products. The COVID-19 pandemic has demonstrated the significance of a digitalized logistics business.

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Sonali De Rycker, Partner at Accel commented: “It is all the time improbable to see a portfolio firm attain such a major milestone. 2020 highlighted the worth that Sennder’s modern digital providing brings to the freight business.”

EditorialTeam

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