Qargo secures £11m in Series A funding from Balderton Capital to expand its logistics software platform
The Series A round was led by Balderton Capital to support product development and international expansion.
London-based Qargo provides a cloud-native transport management platform designed to help logistics operators automate workflows and reduce emissions.
Qargo has secured £11m in Series A funding led by Balderton Capital to scale its transport management platform. The capital will be deployed to launch operations in new territories, advance product capabilities, and expand the engineering team.
Founded in 2020, the company supplies cloud-first software that automates route planning and administrative tasks for haulage operators. Its algorithms combine loads to minimise empty miles and reduce carbon emissions across European supply chains.
The business currently serves more than 140 customers across the UK, the Netherlands, Ireland, and Belgium. The latest injection of capital will support further expansion as the firm looks to capture a larger share of the global logistics software market.
From the founder
"Road transport is the backbone of European commerce and there’s no reason why it should be run on decades-old software. We’re proud that we can offer a secure cloud-based solution, with AI-based automation in an affordable subscription model that has helped our customers drive efficiencies in their business. Qargo is processing tens of millions in revenue and has become a true partner to the transport companies which are the backbone of many sectors. We’re delighted to partner with Balderton to power our growth and look forward to taking Qargo to the next level."
Adriaan Coppens
Co-founder and CEO at Qargo
Investor perspective
"Logistics is a $5T market globally but is often overlooked by software companies. Most companies in the sector are still using incredibly dated software that does not meet their needs, and working around this with whiteboards and calls. What we love about Adriaan, Joeri, and Sander is that they are outsiders to the industry, having previously built a successful software business OTA Insight, but have completely immersed themselves in transport management software. They have built a modern SaaS that their users spend all day using and really love. I have never before heard customer testimonials as positive as Qargo’s – their customers are really emotional about how Qargo improves their working lives. What’s more, the significant impact Qargo can have on carbon emissions, by reducing empty truck miles and improving asset utilisation, is really important to us."
Rob Moffat
Partner, Balderton
Use of funds
- 01Expand into international markets
- 02Continue product development
- 03Grow the team
