Logistics technology innovator Qargo has secured a $33 million Series B funding round, marking a significant milestone in its mission to modernize European road transport. The company, known for its AI-driven transport management platform, will use the new capital to accelerate its expansion across key logistics markets and enhance its product capabilities. The round was led by Belgian investment company Sofina, with participation from existing investor Balderton Capital, bringing Qargo’s total funding to $54 million.
Revolutionizing European Logistics with AI
Founded in 2020, Qargo provides a cloud-based transport management system designed specifically for road transport operators, freight forwarders, and third-party logistics providers across Europe. The platform digitizes the entire operational workflow, from initial order entry and route planning to load building, invoicing, and reporting. This integrated approach helps operators move away from manual, error-prone processes toward a more streamlined and data-driven operating model.
At the core of the platform is Qargo Intelligence, a proprietary AI engine that automates a large portion of end-to-end transport tasks. Customers have reported reductions of up to 75 percent in time spent on repetitive administrative work, freeing planning, customer service, and back-office teams to focus on higher value activities. The system integrates with existing tools and infrastructure, allowing logistics companies to modernize operations without disruptive rip-and-replace projects.
Driving Efficiency and Sustainability
Qargo’s technology is built to tackle core pressures facing European road transport, including cost, regulation, and environmental impact. Its advanced optimization engine helps operators manage fleets more efficiently, cutting empty running by up to 30 percent. This improvement in vehicle utilization not only supports margins in a low-margin sector, it also reduces unnecessary fuel consumption and emissions, supporting ongoing decarbonization efforts.
The platform also leverages agentic AI that can autonomously interact with external systems, such as warehouse time-slot booking platforms. This level of automation significantly reduces overhead costs and accelerates routine processes at a scale that traditional transport management systems struggle to match. By combining automation, optimization, and real-time visibility, Qargo aims to give transport operators a measurable edge in a market increasingly shaped by regulation, cybersecurity risk, and rising customer expectations.
Fueling Rapid Growth and Expansion
Qargo has demonstrated strong traction since its Series A round in May 2024. Over the past 18 months, the company has quadrupled its customer base from around 100 to more than 400 logistics businesses across six European markets. During the same period, the annual value of freight invoicing processed through the platform has grown from £420 million to more than £1.9 billion, underscoring Qargo’s emergence as one of the fastest-growing intelligent TMS platforms in Europe.
With the new Series B capital, Qargo plans to expand its team, deepen its presence in existing European logistics hubs, and enter additional markets. The company will also accelerate the development of new AI-powered capabilities while maintaining its independence, positioning itself as a neutral partner to organizations ranging from family-owned transport companies to large enterprises.
By combining cloud-native infrastructure, strong security practices, and advanced AI, Qargo is consolidating its position as a transformative force in European logistics technology. As it scales its platform and footprint, the company aims to help operators across the continent run leaner, safer, and more sustainable transport operations, while unlocking new opportunities for growth.