Fast-growing software provider Qargo has raised $33 million in a Series B funding round. This financing round was led by the Belgian investment fund Sofina and the existing investor Balderton Capital.
In 18 months, Qargo has quadrupled its customer base and increased its turnover fivefold. The customer base (currently more than 400 companies) is today spread across six European countries. The Belgian company owes this success to its cloud-based TMS and the integration of AI tools. “Thanks to the addition of agent AI that can communicate with external systems, our platform significantly reduces overhead costs and accelerates processes at a scale that traditional TMS systems simply cannot match. Furthermore, Qargo’s optimization feature, which helps companies manage their fleets more efficiently, can reduce empty journeys by up to 30%. This is essential in a market where margins are under intense pressure due to intense competition, stricter decarbonisation regulations and increasing cybersecurity risks,” said Adriaan Coppens, CEO and co-founder of Qargo.
This new round of funding will allow Qargo to expand its team, enter new markets and accelerate the development of its AI-based product capabilities.
