Qargo, an intelligent Transport Management System (TMS) reducing operating costs for European transport operators, announced the closing of a $33M Series B round led by a Belgian family-backed investment company with long-standing industrial roots. The raise brings total funding to $54M and reflects the rising impact of AI across Europe’s logistics sector.
Qargo Intelligence, the platform’s AI engine, automates major transport workflows including order creation, route planning, load building, invoicing, and warehouse time-slot booking. Customers report up to 75% less time spent on manual administrative work and significant weekly time savings across planning and back-office functions. Agentic AI capabilities now interact with external systems to further cut overhead and accelerate processes, while optimisation tools reduce empty running by up to 30%.
Rapid expansion since the May 2024 Series A includes growth in customer invoicing from £420M to over £1.9B annually, and a customer base increase from roughly 100 to more than 400 companies.
New capital will support team scaling, market expansion, and accelerated development of AI-driven product features. Security remains a core pillar, supported by ISO 27001 certification, Google Cloud infrastructure with Cloud Armor, continuous code scanning, penetration testing, and dedicated in-house security specialists. Qargo Network also enables real-time, transparent subcontracting without manual back-and-forth.
“This round is a strong endorsement of our progress and our mission to modernise transport management. Since our Series A we’ve grown revenue, customers and team at an exceptional pace, while remaining highly capital efficient. The Series B funding allows us to continue investing and grow the team so that we can keep offering the same level of customer service,” said Adriaan Coppens, CEO and co-founder of Qargo.