FreightHub: European Digital Freight Forwarder Raises $20M Series A

FreightHub, is a start up based out of Berlin and Hamburg that, according to the company, is Europe’s first fully digital freight forwarder. It has raised $20 million in a Series A round of funding, just a year and a half since its launch. The VC firm Northzone as well as existing investors led the round. La Famiglia, Cavalry Ventures, Cherry Ventures, Rocket Internet founder Global Founders Capital made up the existing investors.

A number of startups are attracted to the freight industry, which is fertile ground for digitalization. FreightHub is setting out to compete with and replace old-fashioned freight forwarding companies which make use of outdated IT and unwieldy manual processes. FreightHub claims this leads to inefficiency and opacity surrounding prices, which it wants to solve.

Ferry Heilemann, co-founder and CEO of FreightHub, described the company’s mission as “building the backbone of 21st century global trade.” Heilemann claims they are the only freight forwarding operator in Europe with a platform that offers real-time quotation and booking for sea, air and rail between Asia and Europe.

Reports say that FreightHub has gained more than 650 customers in its first 17 months. This includes Home24 and Lesara, leading e-commerce sites that import from Asia to Europe, as well as middle-range European companies like Franke and Viesmann.