The digital forwarding company InstaFreight closed a Series A funding round of €8 million from a unnamed private investment company. Additionally, Maximilian Schaefer, a former member of the senior management team at the logistics service provider TNT, joined the Berlin-based startup as managing director.
InstaFreight aims to reshape the fragmented transport market in Europe. Since its inception in June 2016, the startup has operated as a digital forwarding company and has positioned itself as a one-stop-shop for road freight: from a single pallet to a 40t full truckload. InstaFreight has digitalized its entire process from quoting prices to invoicing. According to the startup, this leads to higher efficiency and saves time as the administrative efforts of all stakeholders are reduced. Therefore, InstaFreight is particularly tailored to B2B customers looking to book a transport service online – quickly and conveniently.
InstaFreight distinguishes itself from its competition in particular by the one-stop-shop approach, as well as, by its price algorithm. This instantly provides a price quote that customers can book immediately. In addition to spot orders, recurring shipments can also be booked on fixed terms. InstaFreight is the contract and contact partner for every transport. With its pool of over 3,000 subcontractors and selected transport networks, InstaFreight is able to ship transports in Germany and across the EU.
InstaFreight co-founder Philipp Ortwein stated: “The capital from the financing round enables us to further develop the business model and thereby cope with the rapidly increasing transport volumes. In addition to increasing automation, our priority is to further strengthen the data interfaces for our customers and partners. In this manner, we continue to work for the benefit of our customers on the digitization of the forwarding market.”
By the way: If you’re interested to join a fast-growing startup like InstaFreight, make sure to check out the EU-Startups Job Board.