Qargo Tech secures £11m in Series A funding from Balderton Capital to drive international expansion and product development.
The funding round was led by Balderton Capital to support product development and market expansion.
Qargo Tech provides a cloud-based transport management platform designed to streamline logistics operations and workflow automation. The company helps transport firms and freight forwarders replace legacy software with modern tooling.
Qargo Tech has secured £11m in Series A funding from Balderton Capital. The capital will support international expansion, product development, and engineering team growth. The company provides cloud-based transport management software to help logistics operators automate workflows and improve efficiency.
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
CEO at Qargo Tech
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 which 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 Capital
Use of funds
- 01Expand into international markets
- 02Continue product development
- 03Grow the team
Investors
Categories
About the company
Qargo Tech
Qargo Tech builds a cloud-based transport management platform for the logistics industry.