An online network for eCommerce importers and freight forwarders Cargoplot, based in Amsterdam has finished its extended pre-Seed round of investment at more than €1M the previous year.
ASIF Ventures and numerous angel investors took part in the round. A student-run venture capital fund with offices in Amsterdam is called ASIF Ventures. It targets undergraduates and recent graduates and offers tickets ranging from €25K to €100K.
Maarten de Reij started the business in 2020, and subsequently Henk-Jan Meijer and Daniel Schreij joined. Cargoplot’s mission is to assist SMEs in locating the “best” transportation option and streamlining the cargo transportation process in a way that is efficient, transparent, and reliable.
According to the business, its platform employs machine learning (ML) to match the two parties and ensure a freight forwarding partner that can deliver the cargo to the other side of the globe in a timely and transparent manner.
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When the cargo is finished, Cargoplot receives a commission based on the overall transaction value. The weight and kind of the goods are taken into consideration while calculating the commission.
Pricing is also determined by the caliber and experience of the freight forwarder. Requests for shipments, according to the company, are only made to knowledgeable freight forwarders for that particular route and type of product.
According to De Reij, potential revenue sources for the future might come from capitalizing on the data collected as well as from other models including affiliate sales of cargo space to freight forwarders, cargo insurance, and cargo financing.
The money was used by Cargoplot to expand its marketplace for transportation services. The company noticed a 7-fold YoY growth in volume on the China-Netherlands corridor after going live on it at the end of 2022.
By concentrating on building a global network of trustworthy freight forwarders, Cargoplot was able to ensure that items were delivered even under the turbulent market conditions of the previous year.
The business adds value above and beyond lead generation by enabling freight forwarders to enter new markets and enhance the effectiveness of internal communications.
Image Credit: Cargoplot