A Dutch logistics company which connects businesses with available freight capacity has raised €3 million in funding.
Quicargo’s software application allows businesses moving goods to search in real-time for empty lorries, promising up to 30 percent reductions in freight costs. It includes a matching and pricing algorithm, track and trace options and payment solutions.
The new funding round, led by SLJ Investment Partners, will allow the start-up to expand to the Ruhr area as well as expand its offering in Belgium. SLJ’s founder will join Quicargo’s advisory board.
The start-up will target smaller trucking companies, having until now worked with large and mid-sized companies.
Part of the expansion will take the form of new hires, with Quicargo recruiting for 12 positions.
Quicargo’s CEO Avishai Trabelsi said: “We are now approaching smaller trucking companies as well.
“At the moment, they mainly work as sub-contractors or in very limited regions because they often don’t have the resources for proactive sales and marketing.
“We enable them to become more flexible and connect them directly to the available demand in the market, which will benefit their margins.”
After the official launch in summer 2017, the latest round brings Quicargo’s total funding to €4.5 million and follows the €900,000 the company raised in a seed funding round in April.