Belgian digital-first customs management firm Customs4trade has raised €17 million in a Series C funding round from 83 North. With the injection of capital, Customs4trade plans to accelerate integrations with customs systems around the world and ramp up sales efforts across Europe and the US. To date, the firm has raised €22.1 million.
Founded in 2004 by Ilse Vermeersch and Pieter Haesaert, Customs4trade has developed what they refer to as CAS, a one-of-a-kind SaaS solution that automates customs and trade compliance. By automating all import and export processes, Customs4trade offers clients faster time to market, the elimination of customs duty and administration costs, and strategic visibility into their customs operations.
Customs4trade serves customers across a range of industries including retail, automotive, tech, manufacturing, raw materials, and fast-moving consumer goods. The firm reports that companies utlising its service can save up to 90% in customs administration and bottom-line duty costs, with logistics providers gaining the potential to expand and increase their revenues 10x.
“There’s a coming-of-age of tech and the ability to build phenomenal companies in Europe,” comments 83North’s Laurel Bowden. “We believe Customs4trade will set the standard for their category and go on to achieve the exceptional.”