Berlin-based startup sennder has acquired Uber’s European freight enterprise in an all-stock transaction that can see the freight forwarder prolong its dominance within the European market.
As a part of the transaction, sennder will grow to be a minority shareholder in Uber and the businesses have agreed to a buyer referral programme, the place sennder will refer US freight clients to Uber and vice versa.
Sennder is considered one of a lot of freight companies popping out of Berlin’s tech scene, aiming to digitise a nonetheless pen-and-paper trade. The corporate matches vans with cargo to cut back the variety of return journeys vans do empty.
The startup, based in 2015, has already expanded as soon as this 12 months, shopping for French freight firm Everoad in June. Earlier than that, it additionally established a partnership with Poste Italiane, the most important freight operator in Italy. Sennder is backed by over €120m in funding from the likes of Accel, Lakestar, HV Ventures, Scania and Undertaking A.
“This acquisition [of the Uber business] strengthens our place as Europe’s primary digital logistics supplier,” mentioned David Nothacker, the chief govt and cofounder of sennder.
Sennder plans to ascertain a brand new workplace in Amsterdam, that means it is going to have places of work in seven international locations throughout Europe. The corporate at present has 60,000 carriers and has mentioned it goals to achieve €1bn in income by 2024.
Uber Freight was based in 2017, and the corporate solely entered the German market final 12 months.
“This collaboration with sennder permits us to additional prolong our attain in Europe whereas doubling down on our Uber Freight enterprise in North America, and to collectively push the digital freight trade ahead,” mentioned Lior Ron, head of Uber Freight.
