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FreightHub, a European ‘digital freight forwarder’, scores $20M Series A

FreightHub, a Berlin and Hamburg-based startup that says to be Europe’s first absolutely virtual freight forwarder, has raised a $20 million Series A spherical, simply 1.five years since release. The spherical is led through VC company Northzone, with participation from current buyers. The latter contains Rocket Internet’s Global Founders Capital (GFC), Cherry Ventures, Cavalry Ventures, and La Famiglia.

Operating within the freight business, a marketplace this is ripe for digitalisation and as a outcome has attracted a plethora of well-funded startups, FreightHub is getting down to compete with and exchange conventional freight forwarding corporations who usually depend on legacy IT methods and bulky and guide processes. This, the corporate claims, ends up in worth opacity and inefficiencies, one thing it’s aiming to eliminate.

“The logistics industry still largely relies on outdated, manual, and paper heavy legacy systems and processes, leading to a lot of inefficiencies and lack of transparency,” says FreightHub’s co-founder and CEO Ferry Heilemann, who prior to now based Groupon clone DailyDeal, which used to be bought to Google in 2011.

“We are giving our customers the control over their supply chain by making Freight forwarding more efficient, more reliable and more transparent through real time processes on our digital platform”.

Describing FreightHub’s broader project as “building the backbone of 21st century global trade,” not like a selection of different startups within the freight house which can be taking a market or worth sharing and comparability way, Heilemann says the startup is working as a complete provider virtual freight forwarder, that means that it offers with its B2B shoppers from citation, during to delivery and monitoring shipments.

This has noticed FreightHub digitise buyer acquisition with a gross sales procedure that makes use of on-line channels and display screen sharing as an alternative of getting box gross sales other people using to business parks and knocking on doorways. Quotation and reserving has additionally been digitised, with the FreightHub founder claiming that it’s the handiest freight forwarding participant in Europe providing genuine time citation and reserving on its platform for sea, air, and rail, between Asia and Europe.

The corporate has additionally constructed a proprietary shipping control gadget (TMS) to streamline all its processes, with real-time monitoring and analytics additionally supplied. “We are delivering best after sales service through our real-time track and trace with automated notifications, a perfect shipment overview and centralised document management. Customers don’t need to call us to find out about the status of their shipment,” says Heilemann.

Meanwhile, I’m advised FreightHub has received greater than 650 shoppers within the first 17 months, together with main e-commerce websites like House24 and Lesara which can be uploading from Asia to Europe, and European ‘mid-market companies’ like Franke or Viessmann.

The startup generates earnings in the similar used to be as conventional freight forwarders do through including a dealing with rate to the charges it receives from carriers. “In the long run we may add special software features for enterprise customers, leading to a combined business model of transactional and software revenues,” provides Heilemann.

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