Sports Forto after financing round One billion euros value

13:35  21 june  2021
13:35  21 june  2021 Source:   finanzen.net

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The Berlin logistics start-up Forto is evaluated after a new round of financing with around one billion euros.

Ferry Heilemann, Gründer von Forto (r), bei der Verleihung des Startup-Preises des Bundesverbands Deutsche Startup in der Kategorie © Annette Riedl / dpa Ferry Heilemann, founder of Forto (R), when awarded the startup price of the Federal Association Deutsche Startup in the category "Best Founder".

The investment of $ 240 million (EUR 202 million) is led by the Vision Fund 2 of the Japanese Softbank Group, the company announced on Monday in Berlin.

Forto was founded in 2016 as a freedhthub of the brothers Ferry and Fabian Heilemann. The company conveys transport capacities for land, air and sea freight. However, the core of the product offer is a software that covers the entire logistics process from the order to delivery to the camp. For example, it is used by dealers on the Amazon Marketplace. Customers are also part of Forto information, including Home24 and EDEKA.

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«Data analysis and process automation will fundamentally change the global delivery of goods and services," said Karol Niewiadomski, Senior Investor at Softbank Investment Advisers. «Forto's centralized platform uses these technologies to increase operational efficiency, reduce settlement costs and increase transparency for customers."

Michael Wax, CEO and co-founder of Forto, explained, with the investment his company is able to drive his growth. "In our desire to further digitize global trade, we plan to clearly expand our international presence, our technology platform and service spectrum to consolidate our market leadership in Europe and beyond."

An Forto spokesman emphasized, the new investment also supports the company with the aim of creating global trade more sustainable. Already more than half of the Forto customers already uses the offer of the company for CO2 compensation. Forto doubles the CO2 compensation of each customer to enable perspective-positive transports.

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