This Belgian startup ropes in €2M funding to automate custom clearance

Customs4trade (C4T), a Mechelen, Belgium developers of comprehensive customs and trade compliance has secured €2 million funding in a Series A round led by 42CAP and 10x Group.

The company intends to utilize the funds to expand the product team, improve software functionality, and build out a sales and marketing organisation. Up till now, the company has grown with seed funding provided by founders Pieter Haesaert and Ilse Vermeersch.

Founded by Pieter Haesaert in 2004, Customs4trade specialises in customs, excise and international trade services. The company developed CAS (Customs Accounting System), a global trade management solution for enterprises.

What is Customs Accounting System(CAS)?

For the uninitiated, CAS is a collaborative hub, designed to manage regional and worldwide customs and trade compliance quickly and accurately, within one single platform.

By automating all import and export processes, C4T clients experience faster time to market, eliminate customs duty and administration costs, and gain strategic visibility into their customs operations.

Reduces administrative and duty costs!

This solution enables enterprises to run a digital customs competence center that will reduce administrative and duty costs while solving the complexities of customs and trade regulations. Built on the Microsoft Azure platform and delivered as a Service (SaaS), CAS provides clients with continual updates and feature enhancements.

42CAP

42CAP is a European seed-stage investment fund focused on technology companies with the ambition to take their businesses global. Prior to founding 42CAP, its lead investors Alex Meyer and Thomas Wilke built one of Europe’s largest SaaS start-ups, eCircle.

10x Group

10x Group is comprised of serial entrepreneurs and technology venture experts that support strong founding teams in second seed-stage companies. 10x Group focuses their funding on companies that have introduced a disruptive technology with proven market acceptance and traction, poised for significant growth.

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