Dutch Transport Software Start-Up Secures Growth Capital
15th October 2018
Dutch logistics startup Quicargo, which aims to address the empty truck issue, has raised €3 million in growth capital. The round was lead by SLJ Investments Partners, a privately owned Dutch investment fund, with participation from an array of existing and new investors from the tech and logistics industry. Rene Dahan, SLJ’s founder, a seasoned business executive with 50+ years of experience in the oil, retail, finance, and logistics industry, joins Quicargo’s Advisory Board.
More than 50% of the 13 million trucks around Europe travel empty or partially empty, and it is Quicargo’s mission is to solve this problem. Quicargo connects empty trucks with any business needing transportation in real time — ensuring a more efficient road freight industry while reducing CO2 emissions drastically.
The platform offers a matching and dynamic pricing algorithm, track&trace, and instant payment solutions. Thanks to its proprietary smart algorithms, Quicargo decreases the number of empty trucks on the road and thus reduces road congestion.
With the additional funding, Quicargo is aiming to further scale-up its Benelux and German operations, which started before the summer. Furthermore, the co-founder and CEO Avishai Trabelsi, an Israeli native, steers the company’s sales efforts toward mid-sized carriers.
“Up until now, we’ve worked with large and mid-sized trucking companies to control the quality of service and create credibility in the market,” he says. “In the current market, these trucking companies are struggling with growing demand due to the lack of drivers and increased congestion. Fuel rates are also going up, which means that all transport rates are skyrocketing. This is a serious peril for the market. The solution that Quicargo offers is a more efficient use of the existing assets (trucks) of larger trucking companies.”