Qargo, a cloud-based transport management software provider, has raised $33 million in Series B funding as it scales its AI native platform for carriers, freight forwarders, and third-party logistics providers across Europe. The company said the round was led by Belgian investment firm Sofina alongside participation from existing investors, bringing Qargo’s total funding to $54 million.
The financing follows a period of rapid growth in which Qargo said it expanded from two to six European logistics markets in 18 months, quadrupled its customer base, and increased revenue fivefold.
The Ghent and London-based company positions its product as an intelligent transport management system built to automate end-to-end transport workflows, including order creation, route planning, trip optimization, load building, invoicing, and warehouse time slot booking. Qargo said its AI engine, Qargo Intelligence, has helped customers reduce time spent on repetitive administrative tasks by as much as 75 percent, freeing up hundreds of hours per week across planning, customer service, and back office teams. The company also said its optimization tooling can reduce empty running by up to 30 percent, a key lever for operators facing margin pressure from competition and tightening decarbonization requirements.
Qargo reported that activity processed through its platform has climbed sharply since its Series A in May 2024, with annual customer invoicing rising from £420 million to more than £1.9 billion, while its customer base expanded from around 100 to more than 400. The company said the new funding will be used to scale headcount, support expansion into additional markets, and accelerate development of AI-driven product capabilities, while continuing to work with customers ranging from family-run operators to enterprise logistics businesses.
The company also emphasized security as a core differentiator amid increasing cyberattacks against logistics and infrastructure. Qargo said it achieved ISO 27001 certification early, runs exclusively on Google Cloud with Cloud Armor protection, and uses tools such as Aikido for continuous code scanning, complemented by regular penetration testing and in-house security specialists. It added that its cloud-first model is intended to reduce the operational burden on customers that would otherwise be responsible for managing security controls across fragmented systems.
In addition to automation and optimization, Qargo highlighted Qargo Network, a real-time work-sharing capability designed to support daily subcontracting by enabling customers to share work with greater transparency and control, similar to jobs executed by their own fleets, while reducing manual coordination.
KEY QUOTES:
“This round is a strong endorsement of our progress and our mission to modernise transport management. Since our Series A we’ve grown revenue, customers and team at an exceptional pace, while remaining highly capital efficient. The Series B funding allows us to continue investing and grow the team so that we can keep offering the same level of customer service.”
Adriaan Coppens, CEO And Co-Founder, Qargo
“Qargo’s experienced team combines deep industry knowledge with strong product velocity and client centricity. This results in exceptional customer traction. Road transport is the backbone of Europe’s economy, and Qargo is delivering meaningful, measurable cost and CO2 efficiency gains for fleets of all sizes. They are building something genuinely transformative in the transport-technology market, and we are excited to back them on the journey ahead.”
Anthony Keusters, Principal, Sofina
“Efficiency, transparency, and flexibility are central to our customer offering. Qargo’s intelligent transport management platform provides the scalability and automation we need to further enhance our multimodal services and deliver an even better experience for our customers.”
Stijn Gheyle, Chief Operating Officer, CLdN Cargo
