Qargo Raises $33M Series B To Grow AI-Powered Transport Management

The round follows Qargo’s rapid expansion across European logistics hubs and brings total funding to $54M.

Founded in 2020, Qargo is a cloud-based transport management platform for carriers, freight forwarders, and 3PLs. The platform digitizes operations, automates tasks across the transport cycle, and integrates with existing tools to boost efficiency, reduce environmental impact, and support scalable growth.

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Qargo Intelligence, the platform’s AI engine, automates large parts of the transport workflow including order creation, route planning, trip optimisation, load building, invoicing, and warehouse time-slot booking reducing repetitive administrative tasks by up to 75%, saving hundreds of hours weekly across planning, customer service, and back-office teams.

With agentic AI that interacts with external systems, Qargo cuts overhead costs and accelerates processes beyond the capabilities of traditional TMS platforms. Its optimisation features reduce empty running by up to 30% improving fleet efficiency in a market facing tight margins, decarbonisation demands and rising cybersecurity risks.

Since its Series A in May 2024, annual customer invoicing on Qargo has jumped from £420 million to over £1.9 billion, while its customer base has grown from around 100 to more than 400.

The Series B funding will support team expansion, entry into new markets, and further development of AI-driven capabilities, while preserving the company’s independence and ability to partner with firms of all sizes.

About Qargo

Qargo TMS is a next-generation transport management system for road transport companies. It streamlines operations, reduces administrative workload, and automates key processes, allowing businesses to focus on growth, efficiency, and delivering exceptional service.