Berlin logistics start-up Sennder has cracked the USD one billion in value mark. The news, as reported by business newspaper Handelsblatt, came after the company concluded a USD 160 million round of financing.
Founded in 2015, Sennder digitally connects senders and shippers in the full-load trucking segment. It brings together large companies like Siemens and small firms with fewer than ten vehicles, which account for some 70 percent of transport trucks operating in the EU. At present, some 35 percent of all transport in the sector involves empty vehicles returning home – a figure the company hopes to reduce dramatically.
The European fully loaded trucking market is worth around EUR 115 billion a year. In 2020, Sennder entered into a joint venture with the Poste Italiane Group to take over all of the latter’s long-distance deliveries. That guarantees the Berliner company annual revenues of EUR 100 million, reported Handelsblatt. It also partners with the Scania truck manufacturer and has acquired Uber Freight Europe. Sennder hopes to reach EUR one billion in revenues by 2023 and double that by 2025.