Qargo, the intelligent Transport Management System (TMS) significantly cutting operating costs for European transport operators, today announced it has raised $33 million in Series B funding. The round was led by Sofina, the Belgian family-backed investment company with deep roots in European industry, alongside existing investor Balderton Capital and follows Qargo’s rapid expansion across key European logistic hubs in the last 18 months.
The funding takes Qargo’s total investment raised to $54 million and marks the growing impact of AI technology on one of Europe’s most analogue industries. Qargo Intelligence, the platform’s AI engine, is helping modern logistics companies to automate large parts of the end-to-end transport workflow, from order creation and route planning to optimising trips, building loads, invoicing, and warehouse time-slot booking. This automation layer has helped customers spend up to 75% less time on repetitive manual administrative tasks, saving hundreds of hours each week across planning, customer service, and back-office teams.
With the addition of agentic AI that can interact with external systems, Qargo’s platform is significantly reducing overhead costs and accelerating processes at a scale traditional TMS systems simply cannot match. Meanwhile, Qargo’s optimisation functionality – which helps companies run fleets more efficiently – can cut empty running by up to 30%. This is critical in a market where margins are under intense pressure from fierce competition, stricter decarbonisation regulation and rising cybersecurity risks.
Qargo’s growth since its Series A in May 2024 has been exponential, with customer invoicing processed through the platform rising from £420 million to more than £1.9 billion a year, and the customer base expanding fourfold from around 100 to over 400. This rapid adoption highlights Qargo’s emergence as the fastest-growing intelligent transport management platform in Europe.
The Series B will allow Qargo to use the new funding to scale its team further, expand into new markets, and accelerate development of its AI-driven product capabilities, while maintaining its independence and ability to partner with companies from family-run companies to enterprise businesses.
Security and innovation
Security continues to be a fundamental pillar of the platform and differentiator for Qargo customers. Qargo achieved ISO 27001 certification early, operates exclusively on Google Cloud with Cloud Armor protection, and uses tools such as Aikido for continuous code scanning, supported by regular penetration testing and dedicated in-house security specialists. It takes a cloud-first approach to remove the burden of managing security from customers, giving it a critical advantage as cyberattacks on logistics and infrastructure rise.
In a sector where daily subcontracting is essential to profitability, Qargo Network – Qargo’s real-time work-sharing network – has enabled customers to share work with the same transparency and control as if the jobs were carried out by their own fleet, eliminating the manual back-and-forth typically required.
Adriaan Coppens, CEO and co-founder of Qargo, said: “This round is a strong endorsement of our progress and our mission to modernise transport management. Since our Series A we’ve grown revenue, customers and team at an exceptional pace, while remaining highly capital efficient. The Series B funding allows us to continue investing and grow the team so that we can keep offering the same level of customer service.”
Anthony Keusters, Principal at Sofina, said: “Qargo’s experienced team combines deep industry knowledge with strong product velocity and client centricity. This results in exceptional customer traction. Road transport is the backbone of Europe’s economy, and Qargo is delivering meaningful, measurable cost and CO2 efficiency gains for fleets of all sizes. They are building something genuinely transformative in the transport-technology market, and we are excited to back them on the journey ahead.”
Stijn Gheyle, Chief Operating Officer at CLdN Cargo, said: “Efficiency, transparency, and flexibility are central to our customer offering. Qargo’s intelligent transport management platform provides the scalability and automation we need to further enhance our multimodal services and deliver an even better experience for our customers.”
