Zencargo raises $4m for investment

24 / 09 / 2018

  • (L-R) Zencargo's Richard Fattal, Alex Hersham and Jan Riethmayer

Digital forwarder Zencargo has raised $4m that will be used to invest in new developments and expand its presence in China.

Investment in the seed plus round was led by LocalGlobe, with participation from Samos Investments and Picus Capital bringing total funds raised to over $4m.

The London-based firm, which has offices around the UK and Switzerland, is planning a new office in China to bridge the communication gap between shippers and thousands of local manufacturers.

The funding will also be used to accelerate its product development process.

“We’re very excited to be working with Zencargo,” said Tara Reeves, partner, at LocalGlobe. “The team has an excellent blend of experience both in the shipping sector and in digital technology"

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