Xavier Kong · · 1 min readSG logistics software firm closes growth financing round
Cargobase, a Singapore-based logistics software firm, has concluded its growth financing round, which was led by Trestle Partners and joined by Lufthansa Innovation Hub.
Cargobase team / Photo credit: Cargobase
Founded in 2013 by Wiebe Helder, Cargobase offers spot-buy procurement, freight management, real-time shipment tracking, and freight data analytics services in 55 countries.
The firm said that it was profitable for the third consecutive year, though it did not give specific figures.
Cargobase will use the funds for product development and international expansion, which involves regional offices across the US and Europe. The company will also use the new capital to refine the user experience of its transport management software.
In 2014, the startup secured US$350,000 in a seed funding round joined by 500 Startups and Bukit Timah Capital, as well as Ivan Yeo of YSS Capital.
See also: Series SEA: Who’s investing in the region’s logistics and transportation startups?
Editing by Miguel Cordon and Lorenzo Kyle Subido
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