- 1 June 2021
- Transport / Logistics Services
Europe based digital road freight forwarder sennder has raised an additional $80 million (£56.5 million) in a second closing of its Series D funding round. This brings the total from its Series D round to $240 million (£169.7m).
This phase of the funding round brought in Baillie Gifford that has a portfolio of investments in high growth technology companies including Tesla and Spotify. The current valuation of sennder is in excess of $1bn (£710 million), making it Europe’s most valuable freight forwarder.
The new funds are to accelerate its growth in Europe, expanding its footprint in existing territories and working into new ones. At the same time it is looking to acquire more local road freight companies to enhance truck supply and increase the network density on its sennOS platform.
David Nothacker, CEO and Co-Founder of sennder, said: “We are delighted to have carried our momentum from 2020 into 2021, having already made one acquisition and signed several strategic partnerships. We look to expand our European footprint, bringing more carriers and shippers onto the sennder platform, while expanding our digital offering – such as SaaS. Acquisitions and strategic partnerships are part of this strategy – the additional funds give us the flexibility to capitalize on the right opportunities. Baillie Gifford has backed a wave of revolutionary tech companies; their commitment to sennder is a vote of confidence in our team, technology, and business model.”