BMH BRÄUTIGAM advises Unicorn Forto on $240 million financing round with Softbank
BMH BRÄUTIGAM is advising the Berlin-based freight startup on a $240 million financing round, making Forto the next German unicorn at a $1.2 billion valuation.
In addition to Softbank (Vision Fund 2) as lead investor, Citi Ventures, G Squared and existing investors including Northzone, Cherry Ventures and Unbound participated in the round.
Forto, formerly FreightHub, was founded in Berlin in 2016 with the vision of creating a highly transparent and sustainable digital supply chain and has grown steadily and rapidly since then. The company is now the leading provider of digital freight forwarding and supply chain solutions, using its digital platform to simplify logistics process management and increase supply chain transparency. Michael Wax (CEO and co-founder), Erik Muttersbach (CTO and co-founder) and Dr. Michael Ardelt (COO) have recently expanded the management team with experienced employees in the areas of technology, sales and finance. In total, Forto currently employs more than 550 people at 11 locations in Europe and Asia and counts leading manufacturers and e-commerce brands such as Home24 and Edeka among its 2,500 customers.
The latest investment, which has seen Forto raise $360 million in capital to date, will help the company further develop a highly transparent, sustainable and digital supply chain.
BMH BRÄUTIGAM's team previously advised Forto as part of its previous financing round in September 2020. The company is currently one of the top 20 freight forwarders for trade between Asia and Europe and one of the top10 startups in Germany, leading a new generation of logistics companies.
Team BMH BRÄUTIGAM:
Dr. Patrick Auerbach (Lead), Edzard Rothen (Co-Lead), Daniel Schlichting, Maximilian Frink, Jonas Kiehne (all Venture Capital), Sebastian Krieg (Tax)