Cargofive raises €2.5M to accelerate Digital Transformation in Freight Forwarding 

Company is dedicated to digitizing and automating traditional processes to enhance efficiency and customer service 

Cargofive, a leading innovator in the freight forwarding industry, announces today the successful completion of an extended funding round, raising €2.5 million. This round saw the new participation of prominent venture capitalists Indico Capital and EIT Urban Mobility, an initiative of the European Institute of Innovation and Technology (EIT), a body of the European Union. This follows a round previously led by Shilling & Lince Capital, alongside angel investors and the PRR Nexus. 

In a world where the freight forwarding industry is pivotal to global trade and the economy, Cargofive stands out as a transformative force. This industry, responsible for moving the goods we use every day, has long been hampered by antiquated processes. Freight forwarders often struggle with obsolete methods to find the best pricing and schedules, wading through endless spreadsheets, PDFs, and infinite emails. 

Cargofive is here to change that. Their platform, leveraging cutting-edge technology, simplifies the process of identifying efficient routes and competitive pricing. It enables quick generation of customer quotations, transforming what used to be a laborious and time-consuming task into simpler and more efficient one. This innovation not only boosts operational efficiency but also revolutionizes the customer experience in freight forwarding. 

Cargofive’s growth trajectory has been impressive, with a diverse client base that includes over 100 small, midsize, and even top 50 freight forwarders worldwide. This demonstrates the wide-reaching impact and adaptability of the platform. Moreover, the company’s partnerships are noteworthy, comprising important ERPs and major carriers, reflecting their strong position in the industry.  

This new funding will fuel further innovation and enhancement of Cargofive’s product. The company plans to invest in Marketing & Sales for strategic expansion across Europe and the Americas. Additionally, it will accelerate their Product Roadmap and expand their logistical footprint with new Ocean and Inland service integrations. Cargofive’s journey towards sustainability and profitability continues with renewed vigour. 

Regarding the current industry landscape, Sebastian Cazajus, CEO and Co-Founder of Cargofive, commented: “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.” 

Stephan Morais, Managing General Partner of Indico Capital Partners, added that “Maritime transportation is a huge market and one of the biggest emitters of carbon into the atmosphere. All solutions that increase the efficiency of transportation of goods through the oceans and reduce costs are positive in terms of increased sustainability”. 

Matteo Consonni, Investment and Portfolio Manager at EIT Urban Mobility, said “Operating at the intersection of maritime and land logistics, Cargofive precisely fits the innovation and ambition EIT Urban Mobility is here to invest in. Cargofive´s potential lies both in the ability to revolutionise freight flow management, and the innovative software which provides crucial insights into the environmental impact of shipping routes. The decision to incorporate in Portugal reflects our Investment Committee’s confidence in bolstering EIT Urban Mobility’s footprint in a region where water serves as a vital transport conduit.”. 

With this new funding, Cargofive is positioned to make a significant impact on the future of freight forwarding. The company is committed to leading the charge in the digital transformation of an industry that is so crucial to our everyday lives. 

Our training “Mobility Digitalisation” in Barcelona designed by Factual is open for registration!

The public transportation ecosystem of each European city is a highly complex environment in which end-user’s travelling needs are put in its core. This ecosystem is exceedingly depended on the development of new technologies that constantly transform and shape user’s needs, infrastructure as well as public transport itself. To understand the digitalisation dynamic and speed of penetration of new technology into urban transportation system is a key priority for efficient planning of the infrastructure, sustainable use of public transport and appropriate addressing of users need. All this has a strong reverberation on business, economics and, foremost, environment.

As quickly as digitalisation permeates the transport environment, a prompt response has to be developed to grasp the opportunities and address the challenges that cutting-edge technologies bring into public transport sector. These are of diverse nature and intricacy.

New training “Mobility Digitalisation” very soon in Barcelona

The training “La Digitalització de la Mobilitat”, designed by Factual with the EIT Urban Mobility funding and the support of the Metropolitan Transport Authority (ATM) of Barcelona, is blueprinted to tackle various aspects of new technologies and digital transformation that have a significant impact on modern society, businesses and unambiguously on the urban mobility sector.

More specifically, this training will equip the participant with a comprehensive knowledge on relevant aspects of digital transformation in the urban environment. It will also help to understand a smart-user behaviour to meet his transportation demand, predict changes in the end-user travel patterns and model the impact of these changes on all urban transportation landscape, long distance travel, logistics, economy, and businesses. This training will also provide tools that will assist the participant to face and solve the future challenges that new technologies bring into modern city environment.

The main objectives of the training are:

  • Acquire thorough knowledge on digital technologies and getting confidence in incorporating them into mobility planning measures;
  • Understand their potential to change the way that mobility is planned and managed;
  • Facilitate the interaction and cooperation with their IT peers in their organisation;
  • Understand how to transform the organisation and internal procedures to properly leverage digitalisation;
  • Be ready to manage projects incorporating digital technologies: assess their implications in terms of cost, benefits, resources, timings.

The first edition of this training will be held in Barcelona from October 6 to December 1, 2021, aiming to develop this training in other EU cities in further editions.

More information

Visit the training website: www.factual-academy.com/course/la-digitalizacio-de-la-mobilitat

Contact Víctor Moyano, Senior Consultant Mobility, Factual: victor@factual-consulting.com