Qargo, a London and Belgium-based startup that offers transport management solutions for the logistics industry, raised £11 million in Series A funding.
Investors
The round was led by Balderton Capital, a venture capital firm based in London, UK, that supports Europe's founders from Seed to IPO. The firm invests in early-stage technology and internet startup companies in Europe.
Qargo Use of Funds
The company will use the funds for expansion into new markets, product development, and bolstering the engineering team to support its growing customer base.
About Qargo
Founded in 2020 by Adriaan Coppens, Joeri de Turck, and Sander de Wilde, Qargo provides a cloud-first SaaS platform designed to replace outdated legacy systems and offline spreadsheets. The platform offers end-to-end transport management, from order entry to route planning, load tracking, and invoicing, enabling logistics companies to process orders significantly faster and automate routine tasks. The company’s platform has supported over 140 customers across Belgium, Ireland, the Netherlands, and the UK, including industry leaders Altrea Group and Uniserve Group.
Funding Details
Company: Qargo Tech Limited
Raised: £11.0M
Round: Series A
Funding Month: June 2024
Lead Investors: Balderton Capital
Additional Investors:
Company Website: https://www.qargo.io/
Software Category: Transportation Management
Source: https://www.qargo.io/post/qargo-raises-12-million---11-million-from-balderton-capital-to-build-the-all-in-one-platform-to-st