• New funding round led by London-based growth investor ETF Partners
• Movinga takes over largest digital competitor on the French market
• Movinga sustainably digitalizes the bulky logistics industry: logistic algorithms and new smart city approaches remain core of Movinga’s technological development
Berlin, November 22nd, 2018 – Movinga, the leading European relocation platform, has closed a €15 million financing round led by London-based growth investor ETF Partners. Existing investors Santo Venture Capital, Earlybird, and GFC (Global Founders Capital) also supported the round. The funding will support further process automation, the launch of new services, and international expansion. Part of the capital is used to acquire Movinga’s largest French competitor.
The B2C relocation industry is notoriously fragmented and inefficient. Firms are small and processes are driven manually, which creates costs and leads to frustrating customer experiences. Traditional relocation companies also struggle with up to 80 per cent underutilized capacity, with empty runs and half-filled trucks resulting in CO₂ pollution and traffic in inner cities. “Our business development clearly shows that we are in the process of putting a fragmented industry onto a new foothold. For a long time, digitalization did not happen within the relocation industry,” says Finn Age Hänsel, CEO of Movinga.
Movinga digitally enables this industry by managing and automating all processes for its relocation partners. Movinga’s advanced scheduling and routing algorithms optimize capacity utilization and the company’s marketing, sales, customer care, insurance, and payment services create a superior customer experience.
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