Belgian TMS startup Qargo secures €28 million to scale operations and product development

Qargo, a Ghent-based intelligent Transport Management System (TMS) cutting operating costs for European transport operators, today announced it has raised €28 million ($33 million) in Series B funding.

The round was led by Sofina, the Belgian family-backed investment company, alongside existing investor Balderton Capital and follows Qargo’s rapid expansion across key European logistic hubs in the last 18 months – taking total investment raised to €46 million ($54 million).

Adriaan Coppens, CEO and co-founder of Qargo, says: “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.”

In 2025, EU-Startups reported several adjacent developments in European transport and logistics technology that help contextualise Qargo’s Series B.

Dublin-based Axe raised €1.5 million at pre-Seed to develop AI agents that automate routine logistics tasks, while Vok Bikes in Tallinn secured €5 million to expand production of electric cargo bikes aimed at reducing urban van traffic. In rail-related operations, Berlin-based Menlo79 obtained €2.1 million to advance its cloud platform for workforce and planning optimisation.

Together, these rounds amount to approximately €8.6 million, indicating that funding in the sector this year has largely concentrated on early-stage automation and mobility solutions.

Against this backdrop, Qargo’s significantly larger Series B stands out, reinforcing both the maturity of its transport management proposition and continued investor interest in efficiency-driven logistics software across Europe.

Anthony Keusters, Principal at Sofina, adds: “Qargo’s experienced team combines deep industry knowledge with strong product velocity and client centricity. This results in exceptional customer traction. Road transport is the backbone of Europe’s economy, and Qargo is delivering meaningful, measurable cost and CO2 efficiency gains for fleets of all sizes. They are building something genuinely transformative in the transport-technology market, and we are excited to back them on the journey ahead.”

Founded in 2020, Qargo is a cloud-based Transport Management platform designed for carriers, freight forwarders, and 3PLs – helping modern logistics companies digitise operations and automate repetitive manual work across the full transport cycle, from order entry and transport planning to optimising runs and building loads, invoicing, and reporting.

Qargo Intelligence, the platform’s AI engine, is helping modern logistics companies to automate large parts of the end-to-end transport workflow, from order creation and route planning to optimising trips, building loads, invoicing, and warehouse time-slot booking.

This automation layer has reportedly helped customers spend up to 75% less time on repetitive manual administrative tasks, saving hundreds of hours each week across planning, customer service, and back-office teams.

With the addition of agentic AI that can interact with external systems, Qargo’s platform is reducing overhead costs and accelerating processes at a scale traditional TMS systems simply cannot match.

Meanwhile, Qargo’s optimisation functionality – which helps companies run fleets more efficiently – can allegedly cut empty running by up to 30%.

Stijn Gheyle, Chief Operating Officer at CLdN Cargo, said: “Efficiency, transparency, and flexibility are central to our customer offering. Qargo’s intelligent transport management platform provides the scalability and automation we need to further enhance our multimodal services and deliver an even better experience for our customers.”

Qargo’s growth since its Series A in May 2024 has been exponential, with customer invoicing processed through the platform rising from €479 million (£420 million) to more than €2.1 billion (£1.9 billion) a year, and the customer base expanding fourfold from around 100 to over 400.

The Series B will allow Qargo to use the new funding to scale its team further, expand into new markets, and accelerate development of its AI-driven product capabilities, while maintaining its independence and ability to partner with companies from family-run companies to enterprise businesses.

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