Data-driven Supply Chain Solution Forto Wins Round
Fortuitous Forto heads Erik Muttersbach (CTO), Michael Wax (CEO), and Michael Ardelt (COO) – © Forto
The global Berlin-based logistics platform Forto, formerly known as FreightHub, just received €226 M in series D funding, making it worth €1.9 billion and thereby cementing its unicorn status, as Tech.eu reports. This fresh capital comes only eight months after the company’s last round of €220 M in summer 2021. Forto’s great logtech idea that touches all sectors of the shipping industry is to put companies in control of their own supply chain. If freight needs to be moved, the platform has a modern, easy on the eye and brain solution for insurance, quotes, customs, document administration, and all the other tricky stages involved in international logistics. With such a comfortable financial cushion, Forto can “bring our technology platform support to customers in new markets”, as co-founder and CEO Michael Wax says, probably thinking of Poland, Belgium, Sweden, and Southern Europe. Next to offices in Germany, Forto is already in Copenhagen, Aarhus, Madrid, Rotterdam, Ho Chi Minh City, Hong Kong, Ningbo, Shanghai, Shenzhen, and Singapore. The company currently has more than 750 employees and around 2,500 customers.
