- 14 January 2021
- Transport / Logistics Services
Europe’s leading digital road freight forwarder, sennder, has announced it has raised $160 million in Series D financing, surpassing a valuation of $1 billion. The round was open to all of sennder’s existing investors who reaffirmed their confidence in the business. It also took on new investors. Round participants included Accel, Lakestar, HV Capital, Project A and Scania. To date, sennder has raised more than $260m.
Since the company was founded in 2015, Berlin based sennder has grown very quickly and now has more than 800 staff across its seven international offices. It will move over 1 million truckloads in 2021, making the company Europe’s leading digital road freight forwarder.
The sennder platform connects enterprise level clients with haulage companies. It uses route optimisation technology to reduce the environmental impact of road freight and keep the costs of transport down.
Some $100 million of the Series D funding is to go into growing and developing its technology, expanding its 200 person technology team and accelerating its research and development into automation, digitalization, optimization and decarbonization of road freight. At the same time it is aiming to break new European markets, fresh from the success of its joint venture with Poste Italiane where it helped save 6% of its annual spending.
David Nothacker, CEO and Co-Founder of sennder, said: “I’m very proud to see sennder’s mission and vision become a reality. We are now an established industry player on equal terms with other more traditional sector pioneers, but have maintained our founding spirit. As a data-driven company, we contribute to making the logistics industry fit for a sustainable future; ensuring transparency, flexibility and efficiency in the distribution of goods. The COVID-19 pandemic has demonstrated the importance of a digitalized logistics industry. Throughout 2020, we helped our carriers increase their profitability by enhancing operating margins by up to 80% during a challenging time. sennder is uniquely positioned to drive industry digitalization, benefiting shippers and carriers alike.“