Zencargo, a London, UK-based digital freight forwarder for organizations, to make smart decisions through a real-time overview of their supply chain, raised £30M ($41M/€35M) in Series B financing.
The round was led by Digital+ Partners with participation from existing investors HV Capital.
The company, which has now raised a total of £42m, intends to use the funds to grow its team – from 150 to 350 people over the next two years – and further expand internationally, to the Netherlands, Hong Kong, and the United States.
Founded in 2017 by Alex Hersham (CEO), Richard Fattal (CCO), and Jan Riethmayer, Zencargo is a digital freight forwarder moving sea, air and road cargo, enabling businesses to improve their logistics operations.
The system handles all the necessary components of transporting goods, from point of production to end-customer, including warehousing, packing, documentation, and customs clearance, but also provides complete visibility of the supply chain down to the item level.
Users include Vivienne Westwood, Swoon Furniture, Farfetch, and Soho Home.
The company is targeting revenues of £100m for this year, and over £200m for 2022. In the past year, the company has more than doubled its headcount to 150 (from 65 at the beginning of 2020).