Charging tech startup Sennder raises $ 160 million with a valuation of more than $ 1 billion By Reuters

By Douglas Busvine BERLIN (Reuters) – Digital upload startup Sennder said on Thursday it had raised $ 160 million from investors, valuing the six-year business at more than $ 1 billion, and would invest the proceeds in its technology platform. The Berlin-based company emerged as a consolidator in Europe’s freight technology sector, merging with France’s Everoad and buying Uber’s (NYSE 🙂 European freight business last year, and aims to move one million trucks. this year. “The business was very strong in 2020, which is why we had the opportunity to raise more money,” CEO and co-founder David Nothacker told Reuters. Trading last year helped reduce risk for its investors, he added. The Series D funding round was supported by Accel, Lakestar, HV Capital, Project A and Scania, and brought the total funds raised to date by Sennder to more than $ 260 million. Sennder specializes in brokering so-called full trucks, a segment that accounts for about a third of Europe’s $ 350 billion freight sector and has traditionally relied on small trucking companies working with phone, pencil and paper. Now, in addition to providing freight forwarding services to major carriers like Germany’s Siemens, Sennder wants to offer its software platform as a service so that carriers can digitize their entire logistics setup. This “uberization” of its model is based on a joint venture in Italy, where Sennder handles all parcel traffic for Poste Italiane, saving its partner 6% on costs and at the same time making profit on the business itself. Commenting on the business outlook, Nothacker said Sennder expected to achieve sales of 2 billion euros in the next five years. Earn between 400 and 500 euros per truck, which puts the sales forecast for this year at around 500 million euros.

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