Japanese VC fund Softbank together with previous investors is putting USD 200 million into Forto, taking the young Berlin company to USD 1.2 billion in value. That’s according to business portal Deutsche Startups.
Previously known as Freighthub, the company was founded in 2016 and has previous attracted nine-figure investments from international funds.
Forto helps companies organize their air, sea and land logistics by connecting them with transporters. It also offers customs and insurance services. It claims to reduce both costs by 15 percent and administrative work by 30 percent. It also says it increases on-time deliveries by 15 percent.
The company currently employs more than 500 people at 12 international locations in Europe and Asia and boasts over 2,500 customers.