Forto is a freight forwarding company that develops scalable, groundbreaking, digital logistics technology. The Forto’s platform assists customers in optimization and owning whole global supply chain processes. Users can manage and track shipments, get and compare freight rates, receive quotations, manage necessary documents, etc.
The funding round was led by Disruptive and included SoftBank’s Vision Fund 2. G Squared, Northzone, Unbound and A.P. Moeller Holding also took part in the round. The money is going to be used for enhancing offers for customers on a global scale.
Forto, Germany, was founded by Erik Muttersbach, Fabian Heilemann, Ferry Heilemann, Michael Wax in 2016. In the beginning it was named as FreightHub. Now, company’s customer base includes over 2000 customers. The team consist of 750 employees in 18 offices around the world – Berlin, Hamburg, Copenhagen, Madrid, Rotterdam, Shanghai, Singapore, Ho Chi Minh, Hong Kong. The plan is to enter Sweden, Belgium, Poland and countries in southern Europe. “As our business remains well-funded from our previous round in 2021, this new round will simply allow us to accelerate the execution of our existing strategy, particularly on our geographic expansion,” CEO and Co-Founder Michael Wax.