The Berlin logistics start-up Forto is valued at around one billion euros after a new round of financing. The investment of 240 million US dollars (202 million EUR) will be led by Vision Fund 2 of the Japanese Softbank group, the company announced on Monday in Berlin.
Focus on software
Forto was co-founded in 2016 as a Freighthub by the brothers Ferry and Fabian Heilemann. On the one hand, the company arranges transport capacities for land, air and sea freight. The core of the product range, however, is software that covers the entire logistics process from ordering to delivery to the warehouse. It is used, for example, by retailers on the Amazon Marketplace. According to Forto, customers also include companies such as Home24 and Edeka.
“Data analytics and process automation will fundamentally transform the global delivery of goods and services,” said Karol Niewiadomski, senior investor at SoftBank Investment Advisers. “Forto’s centralized platform leverages these technologies to increase operational efficiency, reduce processing costs and increase transparency for customers.”
Digitize global trade
Michael Wax, CEO and Co-Founder of Forto, said the investment will enable his company to grow. “In our endeavor to further digitize global trade, we plan to significantly expand our international presence, our technology platform and our range of services in order to consolidate our market leadership in Europe and beyond.”
A Forto spokesman emphasized that the new investment also supports the company in its goal of making global trade more sustainable. More than half of Forto customers are already using the company’s offer to offset CO2. Forto is doubling the CO2 compensation of each customer in order to enable climate-positive transports.