Based out of London, Zencargo is a digital freight forwarder and logistics service provider. The startup uses automation and machine learning to let customers improve supply chain management.
In a recent development, the company announced that it has raised €35M in its Series B round of funding led by Digital+ Partners with participation from existing investors including HV Capital.
Zencargo has now raised a total of £42M (approx €48.82M) in funding, to date, and is now targeting revenues of £100M (approx €116.2M) for this year and over £200M (approx €232.5M) for 2022.
In the press release, the company mentions that due to the backdrop of large-scale supply-chain disruption caused by Brexit uncertainty, the COVID-19 pandemic, and the recent Suez Canal blockage, Zencargo will use the proceeds to further extend its logistics services and business insights to Rotterdam.
Zencargo CEO & co-founder Alex Hersham says, “Rotterdam, as a strategic logistics and supply chain hub for Europe and beyond, and Amsterdam Schiphol Airport, are an instrumental part of our offering for clients that want to transport cargo to and from Europe.”
The company is planning to open a Dutch office soon, with the Netherlands acting as a gateway between the UK and the rest of Europe. Besides, the funds will also help the company hire new talents – from the current 150 to 350 people over the next two years – and further expand internationally, to the Netherlands, Hong Kong, and the US.
Hersham says, “This funding comes at a time of significant growth for the business, and will enable us to grow our team and operations and provide critical support to even more clients.”
Take control of your supply chain
Founded in 2017 by Alex Hersham (CEO) and Richard Fattal (CCO), Zencargo is a provider of digital freight services through sea, air, and road cargo, enabling businesses to be more efficient, accurate, and sustainable in their logistics operations.
It’s platform allows customers to book, manage, and track their international freight and use analytics to drive intelligent supply chain decisions that help their businesses thrive. Zencargo enables shippers and their counterparts to collaborate and manage their logistics. Besides, it also offers trucking and cargo insurance services.
The company handles all the necessary components of transporting goods, from point of production to end-customer, including warehousing, packing, documentation, and customs clearance. It also provides a complete visibility of the supply chain down to the item level. Some of its clients include Vivienne Westwood, Swoon Furniture, and Soho Home.
Hersham says, “With global freight reliability so low as a result of the pandemic, Brexit, and even the Suez Canal delays, it’s more important than ever for businesses to make informed supply-chain decisions that will enable them to serve and satisfy their customers, and Zencargo is the perfect partner to help them do that.”
In the recent Suez Canal blockage case, Zencargo was able to create a live dashboard mapping its customers’ shipments with vessels that were affected by the blockage, then worked directly with affected customers to arrange mitigations and alternative plans.
Data-backed decision making
Zencargo empowers its clients to make decisions based on data. This helps clients on average drive up to a 4 per cent increase in revenues; 9 per cent reduction in carbon emissions; 6 per cent reduction in transportation costs; and a 15 per cent improvement in working capital. This is because the data helps supply-chain teams to focus on ordering and moving only the products they need.
Data-Driven insights and supply chain improvements
Zencargo claims, through its freight forwarding and a comprehensive, real-time overview of the status of each shipment, businesses understand where all their inventory is, where it needs to go, and what needs to happen to get it there.
Through the company’s technology, customers can also see a full digital picture of the freight environment, helping them make improvements and transport cargo more efficiently. Zencargo also presents customers with information on their carbon footprint, enabling them to choose to reduce and offset emissions.
Its platform, powered by machine learning, digitises the end-to-end inbound supply-chain process, providing FTSE 100 companies and some of the world’s fastest growing businesses with complete visibility at each stage, from order to delivery.