Today logistics software developers Cargofive announced a €1.8 million funding round.
Its goal is to accelerate the future of freight forwarding.
Despite global trade and transportation operating at a massive scale, the bulk of processes operate offline. They rely on antiquated procedures to secure the best prices and schedules for goods transportation.
Think sorting through spreadsheets, PDFs, a deluge of emails, and multiple websites with non-standardised data.
Processes are manual, time-consuming, and often require hours or even days.
Time-intensive tasks are reduced to mere minutes.
Sebastian Cazajus, CEO and Co-Founder of Cargofive, said about the industry's current landscape:
"International shipping has remained largely offline until recent years, causing products to cost more and arrive later than needed.
We launched Cargofive to transform this reality, aiming to simplify how freight forwarders operate, and make them quicker and more cost-effective."
Cargofive has been growing rapidly, tripling its sales over the past year, with around 100 clients in more than ten countries.
The company's growing roster of clients includes industry leaders such as Romeu & Cia — part of the logistic holding Grupo Romeu —, and IContainers (Agility).
Many of these freight forwarders have been with Cargofive since its beginning, advocating for digitalisation within the industry and driving positive change.
Cazajus said about the funding round: "This funding will enable us to continue innovating and improving our product, invest more in marketing and sales, double our team size, and expand our operations in Europe and beyond."
Lead image: Matt Hanns Schroeter.