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LocalGlobe leads Zencargo’s latest investment round


LocalGlobe has an investment round into Zencargo, a UK-based digital freight forwarder.

The startup also drew support from Samos Investments and Picus Capital.

With this new round, Zencargo brings its total amount raised to date to over $4m.

The company will use the cash to boost its product development and build a presence in China.

Zencargo enables companies to digitise their supply chain.

The startup was co-founded by Alex Hersham, the CEO; Richard Fattal, chief commercial officer; and CTO Jan Reithmeyer.

Fattal and Hersham are childhood friends and attended university together at the London School of Economics.

“We’ve had an excellent first year,” said Fattal. “We’ve attracted a lot of fast-growing digital companies led by a new generation of business leaders. These are the kind of companies that are driving productivity growth in the UK and elsewhere and we are enjoying helping them operate with greater efficiency.”

Fattal added: “The more a company ships, the more time – and cost – it can save. That’s why a lot of enterprise businesses that are undergoing digital transformation have come to us – we can help them to take cost out of a complex process.”

“We’re very excited to be working with Zencargo,” said Tara Reeves, partner at LocalGlobe.

“The team has an excellent blend of experience both in the shipping sector and in digital technology. It’s great to see a British company bringing cutting edge technology design and user-centred processes into an outdated sector for the first time. Zencargo has already created a central workspace for everyone to share information. This means that their technology can be adopted across business units to manage processes and automate at low cost,” she concluded.