BREAKING
Sennder secures €228 million in debt and equity to expand platform and AI features
The Berlin freight forwarder reached positive monthly EBITDA and expects €1 billion in revenue in 2026.
Berlin-based digital freight forwarder Sennder has raised €228 million ($255 million) in a capital package combining fresh equity and working capital facilities. Existing backing led by Swedish vehicle manufacturer Scania and Italian postal operator Poste Italiane provided €73 million in equity, while credit institutions supplied €155 million in financing facilities.
Sennder has not disclosed the valuation for this funding round. The company was last valued publicly at around $2 billion in 2022. Total funding raised by the startup since inception has now passed $350 million.
Break down of the €228 million financing package
The funding splits into two distinct pools designed to balance operational cash flow with long-term technology development.
| Facility or investor | Amount | Type | Purpose |
|---|---|---|---|
| Coface Finanz | €100 million | Non-recourse factoring facility | Working capital and carrier payments |
| European Investment Bank (EIB) | €40 million | Venture debt facility | Platform development and AI rollout |
| Deutsche Bank & CFLOX | €15 million | Supply chain finance facility | Working capital financing |
| Scania & Poste Italiane (Lead) | €73 million total | Equity (existing investors) | C.H. Robinson acquisition & growth |
The equity contribution consists of €47 million raised over the two years prior to 2026, alongside €26 million closed in 2026. Additional existing investors who participated in the equity pool include Accel, Baillie Gifford, HV Capital, and Lakestar.
Balancing freight payouts and working capital
In road freight forwarding, operators face a chronic liquidity gap: carriers expect payment shortly after completing a transport run, whereas corporate shippers typically pay on extended credit terms. The €155 million in debt facilities addresses this cash mismatch directly, insulating equity capital from daily working capital needs.
Ansgar Kugelstadt, managing director at Coface Finanz, noted that their €100 million non-recourse factoring line provides the company with dependable access to operational capital as it shifts toward profit.
European Investment Bank Vice President Nicola Beer confirmed the bank's €40 million venture debt facility marks its second financing commitment to Sennder. Beer stated that freeing up balance sheet capital allows the company to invest further in AI systems and regional logistics efficiency.
Financial metrics and business scale
Sennder reported that it has achieved positive monthly EBITDA on an unadjusted IFRS basis and expects to remain EBITDA-positive across the full year 2026. The startup projects annual revenue of €1 billion for 2026.
Operating through its sennOS software platform, Sennder currently handles more than 150,000 shipments per month across a network of over 40,000 vetted road transport carriers.
David Nothacker, co-founder and chief executive of Sennder, said in a statement that reaching profitability gives the business financial flexibility. Nothacker confirmed that the €73 million equity capital backed the integration of C.H. Robinson's European Surface Transportation business, while debt lines support platform software and AI capabilities.
M&A history and market positioning
Sennder was launched in late 2015 by David Nothacker, Julius Köhler, and Nicolaus Schefenacker following an INSEAD project. The company originally attempted to move parcels via long-distance passenger buses before pivoting in 2016 to full truckload freight forwarding.
The startup expanded aggressively through consolidation:
- Merged with French freight competitor Everoad in 2020.
- Acquired Uber Freight's European operations in an all-stock deal in 2020.
- Formed a joint venture in Italy with Poste Italiane in 2020, which Sennder reported reduced Poste's €100 million annual freight spend by 6%.
- Raised $160 million in January 2021 and $80 million in June 2021 in a round led by Baillie Gifford that pushed its valuation past $1 billion.
- Agreed to acquire C.H. Robinson's European Surface Transportation division in July 2024, completing the deal in February 2025. The transaction added 6,500 shippers and 15,000 carriers, bringing combined revenues to €1.4 billion.
Opening sennOS to wider AI competition
Sennder plans to open its proprietary sennOS platform and automated AI agents to third-party freight forwarders. The move puts the company into direct competition with specialized logistics software startups.
Competitors operating in the digital freight software space include US-based HappyRobot, which raised a $150 million Series C at a $1.2 billion valuation in August 2026, and Cargofy, which secured an $11 million Series A in June. European logistics platforms MyDello and Qargo are also vying for market share among digital forwarders.
Why it matters to founders and operators
Sennder's reliance on non-recourse factoring and venture debt alongside equity reflects a broader shift among capital-intensive startups. By funding working capital requirements through specialized banking lines, founders avoid diluting equity to finance balance-sheet float.
For investors and logistics operators, Sennder's ability to maintain positive EBITDA while expanding software offerings to external forwarders will test whether traditional freight execution and enterprise software sales can effectively coexist under one platform.
What happens next
Sennder has not specified whether it intends to seek a public listing or pursue further acquisitions. The company's immediate focus remains completing the operational integration of the C.H. Robinson European business, sustaining full-year positive EBITDA for 2026, and deploying sennOS AI tools to external partners.