Sennder, a prominent digital freight forwarding company headquartered in Germany, has secured $160 million in Series D funding. While the lead investor remains undisclosed, the funding round saw participation from Accel, Lakestar, HV Capital, Project A, and Scania. Reports suggest Hedosophia could be the anonymous growth investor, though Sennder has not confirmed this information. With this latest investment, Sennder’s total funding now exceeds $260 million, potentially positioning the company for a valuation of $1 billion.

Sennder establishes direct connections between businesses needing shipping services and trucking providers, streamlining the conventional freight process. The company anticipates handling over 1 million truckloads this year. Currently, its focus remains on the highly profitable European market. Sennder broadened its reach through a merger with French firm Everoad in June 2020, and further expanded by acquiring Uber Freight’s European operations last September. The overall European logistics and freight industry represents a substantial market valued at $427 billion.

Sennder faces competition from established companies like Wincanton and CH Robinson, alongside emerging startups such as OnTrac and Instafreight.

The digital freight forwarding sector is experiencing considerable growth. Just last November, Forto, another German digital freight forwarder, received an additional $50 million in funding, bringing its total raised capital to $103 million.

This new investment will enable Sennder to further expand its presence within European markets. The company already has partnerships with Poste Italiane in Italy, as well as Scania and Siemens. It currently provides transportation solutions to over 10 organizations featured on the German DAX 30 index, and 11 companies listed within the Euro Stoxx 50.

Founded in 2015 by David Nothacker, Julius Köhler, and Nicolaus Schefenacker, Sennder has grown to a team of 800 employees operating from seven international offices.

David Nothacker, CEO and co-founder of Sennder, stated: “We have become a recognized leader in the industry, operating alongside established pioneers, while preserving the core values of our company. As a company driven by data, we are dedicated to shaping a more sustainable future for logistics by promoting transparency, flexibility, and efficiency in the movement of goods. The COVID-19 pandemic underscored the critical need for a modernized, digitalized logistics sector.”

Sonali De Rycker, partner at Accel, added: “It’s truly rewarding to witness a portfolio company achieve such a significant accomplishment. The events of 2020 clearly demonstrated the value and innovation that Sennder’s digital platform delivers to the freight industry.”