Qargo secures £24.6m Series B funding led by Sofina to expand operations
Sofina led the round with participation from Balderton Capital to support product development and market expansion.
London-based Qargo provides a cloud-native transport management platform designed to help logistics operators automate workflows and reduce emissions.
Transport management platform Qargo has secured £24.6m in Series B funding to accelerate product development and expand its operations. Sofina led the investment round, with participation from returning backer Balderton Capital.
The capital injection follows a period of rapid growth for the firm, which has scaled across multiple European markets and quadrupled its customer base over the past 18 months. Qargo will direct the new funds towards scaling its team, entering new markets, and advancing its artificial intelligence capabilities.
Founded in 2020, the company offers a cloud-based transport management system designed to automate manual tasks such as route planning, order creation, and invoicing. The platform aims to help logistics operators improve efficiency and cope with rising cost pressures.
Investor perspective
"Qargo’s experienced team combines deep industry knowledge with strong product velocity and client centricity. This results in exceptional customer traction. Road transport is the backbone of Europe’s economy, and Qargo is delivering meaningful, measurable cost and CO2 efficiency gains for fleets of all sizes. They are building something genuinely transformative in the transport-technology market, and we are excited to back them on the journey ahead."
Anthony Keusters
Principal, Sofina
Use of funds
- 01Grow the team
- 02Expand into international markets
- 03Continue product development
