Shypple, the Rotterdam-based digital freight forwarding platform, today announces raising additional €18.5 million following its earlier Series A funding (€7 million) announced in April of this year. The total of €25.5 million in new funding so far this year will be used to accelerate Shypple’s growth and innovation in the freight forwarding industry.
In addition, the technology-driven platform becomes the first digital freight forwarder in the market for air freight and perishables through the acquisition of Milestone, an European leader in perishable logistics. This acquisition adds capabilities to the Shypple platform, accelerates its revenue and network growth and increases its global presence, adding offices in Asia, Central America and Europe.
Founded in 2016, the Shypple platform and digital freight forwarding service already connects thousands of businesses to manage and improve their supply chain. In 2019, we profiled the as one of 10 Dutch startups to watch.
The investors involved in the initial Series A round included Dutch Founders Fund, Newtown Partners, InnovationQuarter and BOM Brabant Ventures also participated in the latest round, to increase their stakes in Shypple. The Milestone executives have also embraced the opportunity to take part in the funding with a multi-million-euro investment, showing their confidence in the future with Shypple.
Through the acquisition of Milestone, Shypple becomes the first digital forwarder for perishables, simultaneously expanding its presence in Asia, with seven offices in China, and also adding new locations throughout Europe and Central America. Shyppe’s revenue is expected to reach €250 million by 2022.
The acquisition marks the first in a series of activities to achieve faster revenue and network growth. Milestone’s knowledge and network adds strong new capabilities in air freight and perishable transport. At the same time, Milestone customers migrating to the Shypple platform benefit from the digital freight forwarding capabilities that will future-proof their businesses, while maintaining their existing trusted relationships.
Laurens Groenendijk, Founder and Managing Partner at Dutch Founders Fund, stated: “We are confident and proud to take the next step with Shypple in building a global technology platform for the freight forwarding industry. It’s amazing how this organization has grown from just 12 people when I met them in 2018 to 120 in 2021, with offices across the globe, building new capabilities daily and revolutionizing the way the world trades.”
“With the acquisition of Milestone, we have strengthened our capabilities in the perishables and air freight forwarding markets to a globally competitive position,” said Jarell Habets, founder and CEO of Shypple. “We’re now able to serve the needs of large perishable goods shippers in Europe, Latin America and the Asian trade lanes, who are looking for a digital freight forwarding solution. This is our way of continuing to innovate in the traditional world of the freight industry.”