Xeneta raises $5.3m from Alliance et al.

Existing investors Creandum, Point Nine Capital and Alden also participated in the round, following a 2013 seed round. Including its series-A, the company has raised a total of $6.9m since it was founded three years ago.

The new capital will help fund Xeneta's growth and product development, as well as improvements to the ways in which the company maximises the value of its data.

Previous funding
Xeneta raised a €1.2m funding round in April 2013, led by Swedish VC Creandum, alongside Norwegian investment company Alden.

Point Nine joined as an investor in March 2014, pitching in a seed round with Creandum.

Company
Oslo-based Xeneta is a crowd-sourced price comparison service for sea freight rates. Users contribute sea freight rates to a central database, which allows companies in need of shipping to compare rates across the market.

Founded in 2012, Xeneta claims to have price data on more than 50,000 port-to-port shipping routes globally, and $3bn of the $200bn spent globally on sea freight every year.

The company employs 16 people.

People
Fredrik Cassel is a general partner at Creandum. Patrik Olstad Berglund is the CEO and co-founder of Xeneta.

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• Topics
• Nordics
• Expansion
• Support services
• Norway
• Alliance Venture
• Creandum