Forto raises estimated €25m from Inven, Northzone et al.

Gründerszene cited sources familiar with the deal as saying the amount raised is at least €25m.

Maersk Growth, the investment arm of the Danish logistics group AP Moller – Maersk, also reinvested, the article added.

Mergermarket reported last month that Forto was looking at acquisition opportunities during an uptick in demand caused by the coronavirus crisis.

Forto and Inven did not comment on the capital raise by the time of publication.

Previous funding
Forto, then known as FreightHub, raised $20m in a series-A round in December 2017. The round was led by Northzone, with participation from Global Founders Capital, Cherry Ventures, Cavalry Ventures, and La Famiglia.

In May 2019, Forto raised $30m in a series-B round led by Rider Global, with participation from Maersk Growth, Northzone, Unbound, Global Founders and Cherry Ventures.

In June 2020, Forto raised €20m in debt financing from the European Investment Bank.

Company
Founded in 2016 and based in Berlin, Forto transports freight for companies and was formerly known as FreightHub. It serves 2,000 customers and has nine offices worldwide. It employs more than 300 staff.

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