Wednesday, May 22, 2024
Zencargo raises £30 million in funding

Zencargo raises £30 million in funding

Zencargo, the London-based digital freight forwarder that helps businesses navigate supply-chain disruption by making intelligent decision, has raised £30M in Series B financing. The funding was led by Digital+ Partners with participation from existing investors, including HV Capital.

Zencargo will use this latest round of funding to significantly 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.

The business has now raised a total of £42 million, and is targeting revenues of £100 million for this year, and over £200 million for 2022.

Zencargo is a digital freight forwarder moving sea, air and road cargo, enabling businesses to be more efficient, accurate, and sustainable in their logistics operations.

Relied upon by the likes of Vivienne Westwood, Swoon Furniture, Farfetch, and Soho Home, Zencargo not only 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.

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