Cargofive, a Lisbon, Portugal-based logistics software developer, has announced a funding round of €1.8 million.
The round was led by venture capital firms Lince Capital and Shilling, with participation from angel investors and funds from the European Union (PRR) as part of the Nexus project.
This funding will enable Cargofive to continue innovating and improving its product, invest more in marketing and sales, double its team size, and expand its operations in Europe and beyond.
Cargofive's platform enables freight forwarders to quickly identify optimal routes and competitive prices and generate customer quotations with just a few clicks. By digitizing and automating these tasks, Cargofive drastically reduces the time and effort required, transforming hours of work into 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.”
Company: Cargofiv, LDA
Raised: €1.8M
Round: Unknown
Funding Month: June 2023
Lead Investors: Lince Capital and Shilling
Additional Investors:
Company Website: https://cargofive.com/
Software Category: Logistics Software
About the Company: Founded in 2018, Cargofive is a logistics solution that empowers freight forwarders to join the industry’s digital evolution. Its system was specially designed for forwarders to help them digitize and optimize their pricing processes. Cargofive integrates with major ERPs in Iberia and other European countries and serves approximately 100 clients across more than 10 countries, including industry leaders like Romeu & Cia (part of the logistics holding Grupo Romeu) and IContainers (Agility).
Source: https://cargofive.com/cargofive-raises-e18m-in-funding-round/