This news comes on the heels of its extended Series D round. The company plans to use the funds to accelerate international expansion. Here are the top-line bullets you need to know.
Forto, a digital freight logistics provider, has raised $250M in an extended Series D round that drew participation from Northzone Ventures, SoftBank Group, and Disruptive Technologies Venture Capital, among others.
How’s the company performing?
- Germany-based Forto offers sea and air freight forwarding services as well as rail freight transport. It also provides booking, data management, document exchange, and supply chain management services.
- It expanded its European presence in 2021, and it also opened an office in Vietnam.
- Forto plans to expand into Poland, Belgium, Sweden, and southern European locations in 2022.
- The company’s customer base includes manufacturers and e-commerce brands like Home 24, Zero, Miwebo, and Osann.
- Forto has over 750 employees.
Source: Forto
Why does the market matter?
- The global digital freight forwarding market is expected to reach a value of $22.9B by 2030, growing at a CAGR of 23.1%, according to Allied Market Research.
- Covid-19-induced supply chain disruption has increased the demand for freight management solutions.
