Disruptive leads USD 250m round for Forto

The round values the software platform at USD 2.1bn. Also participating in the round were Softbank via Softbank Vision Fund 2, G Squared, Northzone Ventures, Unbound, and AP Moeller Holding.

The new round of investment came earlier than initially anticipated, according to a statement from Forto. The company aims to use the fresh funding to accelerate its existing strategy, including its geographical expansion.

In 2021, Forto opened two offices in Denmark, as well as offices in Spain, the Netherlands and Vietnam. It now intends to expand its presence in Poland, Belgium, Sweden and southern Europe, according to the same statement.

Previous funding
Northzone led a USD 20m Series A round for Forto in December 2017, joined by Global Founders Capital, Cherry Ventures, Cavalry Ventures and La Famiglia also participated.

In May 2019, Rider Global led a USD 30m in Series B round for Forto. Also participating in the rund were Denmark-based shipping company Maersk, Northzone, Unbound, Global Founders and Cherry Ventures.

The European Investment Bank provided EUR 20m in debt financing for Forto in June 2020.

In November 2020, Inven Capital led a USD 50m round for Forto, with Iris Capital joining the round as a new investor. Existing investors Maersk, Northzone, Cherry Ventures, Rider Global, Unbound Ventures and H14 also participated.

Softbank led a USD 240m funding round for Forto in June 2021, joined by Citi Ventures, G Squared, Northzone, Inven Capital, Cherry Ventures and Unbound. It employed 500 people at the time, versus 300 at the time of its previous funding round in 2020.

Company
Founded in 2016 and headquartered in Berlin, Forto develops freight forwarding and logistics software that aims to make supply chains and logistics processes more efficient and transparent. The company serves around 2,500 clients, including manufacturers and e-commerce brands. Forto currently has offices in Germany as well as several locations in Asia and Europe, employing 750 staff.

People
Forto – Michael Wax (co-founder, CEO).
Disruptive – Alex Davis (CEO).
Northzone Ventures – Michiel Kotting (partner).

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• Topics
• Expansion
• DACH
• Technology
• Venture
• Northzone
• G Square Capital
• Germany