Sennder raises 65 million euros
Sennder, a digital road freight forwarder from Germany, has raised 80 million dollars (65 million euros). This follows the first close of its Series D funding round in January and brings the total size of this round to almost 200 million euros.
As a result, Sennder has raised over 285 million euros to date. The company is now being valued at more than 815 million euros, which is said to make it the most valuable digital freight forwarder in Europe.
Through its online platform, Sennder connects enterprise shippers with small and medium-sized trucking companies. With the money it raised, the company also wants to grow the team across its eight European hubs.
Expansion across Europe
With the fresh funding, Sennder wants to capitalize on growth opportunities, finance expansion across Europe through acquisitions, strategic partnerships and investment in its offering. The company was founded in 2015 and since then, it has grown exponentially.
Growing through acquisitions
Last year, Sennder acquired digital freight forwarders Uber Freight Europe and Everoad, while also entering into a joint venture with Italian postal service provider Poste Italiane. As a result, Sennder Italia is the largest full truck load freight forwarder in Italy.
This year, the company is targeting additional acquisitions of local road freight companies to enhance truck supply and increase the network density on its platform. Last month, the German company acquired Dutch logistics player Cars&Cargo, and in February, it started a strategic partnership with Zeitfracht.
“We are delighted to have carried our momentum from last year into 2021, having already made one acquisition and signed several strategic partnerships”, CEO and co-founder David Nothacker says. “We look to expand our European footprint, bringing more carriers and shippers onto the Sennder platform, while expanding our digital offering – such as SaaS. Acquisitions and strategic partnerships are part of this strategy.”