Startup firm acquires EU freight business

Published:

On: Sep 2020

Recently, the freight startup company of Germany, sender said that it had acquired the European freight business of Uber in the overall stock agreement that will observe the United States ride-hailing firm renowned as a minority shareholder. The agreement of acquiring European freight businesses indicates the 2nd takeover in 2020 by Berlin-located sender, which is known as a digital freight forwarder that now leads in complete-truck loads, a segment that responsible for over a 3rd of 400-billion-euro freight industry of the Europe.

The CEO and co-founder of sennder, David Nothacker said that our perspective is that everyone is going to experience contender champions in road freight. He further said that air as well as seas were extreme domain for the worldwide players. Conditions for the agreement were not revealed, but one of the source familiar with the news said that it admired Uber freight at nearly 900 million euros.

The German freight startup founded in 2015, which has implemented the European freight business sector, combined with Everoad of France and hitting a joint venture with Poste Italiane in 2020. It has been planning to create around one billion euros in revenue estimation by 2024.  

The disclosure of the company as a geographical leader has fueled interest of investor and meanwhile, told that it was expecting at gaining around 100 million euros or additional in a newer investment round. In July 2019, the Uber entered in the German freight industry, the agreement that will expand its reach in the whole European continent while the associates with sennder will enlarge to providing freight logistics services in the Canada and the United States of America.

Sennder is one of the famous logistics-oriented startups that located in Berlin tech sector which has been known to renovate an industry influenced by family-owned trucking companies still utilized to operating with a pen, paper and mobile phone.