Forto raises $250 million

The new investment brings the Berlin-based logistics start-up's valuation to USD 2.1 billion.

Logistics start-up Forto has received $250 million in a recent round. In the process, existing investors Softbank, G Squared, Northzone, Unbound and A.P. Moeller Holding invested alongside Disruptive. The current funding round comes just eight months after a $240 million round announced in June 2021 that already made the startup a unicorn. It brings the company's valuation to $2.1 billion.

The company plans to use the new capital to drive its global expansion and broaden its product offerings. To achieve its targeted growth, Forto plans to hire more technology and logistics professionals and expand its management team. The startup recently appointed Jochen Freese, formerly chief commercial and marketing officer at Ceva Logistics, as executive vice president of procurement and business development.

Ferry Heilemann, Fabian Heilemann, Erik Muttersbach and Michael Wax founded Forto in 2016. At the time, the startup was still called Freighthub. The founders developed a logistics platform to act as an interface for various processes. Customers can use it to obtain and book quotes and track their freight with real-time tracking. According to the start-up, it now employs more than 750 people at 18 locations in Europe and Asia. Forto has its sights set on Poland, Belgium, Sweden and Southern Europe for its planned expansion.