€228m · Other round · Marketing, Transportation · Berlin, Germany
Berlin digital freight forwarder Sennder has unveiled a €228m equity and financing package. It combines €73m invested by existing shareholders over the past two years with €155m of operational financing facilities from Coface, the European Investment Bank, cflox and Deutsche Bank. The structure is intended to fund working capital while preserving more equity for network expansion, sennOS and AI tools.
The package separates growth capital from working capital
The €73m equity component was subscribed by existing shareholders led by Scania and Poste Italiane. Of that total, €47m arrived before 2026 and €26m during 2026, so it is not a single new €73m round. Sennder says the capital supported its acquisition and integration of C.H. Robinson's European Surface Transportation business and will also back the next phase of platform and network growth.
The €155m facilities solve a different problem. They include a €100m non-recourse factoring line from Coface, €40m of EIB venture debt and a €15m supply-chain-finance programme with cflox and Deutsche Bank. All three are operating and in use, according to the company.
Payment timing is the scaling constraint
A freight forwarder may need to pay a carrier before the shipper settles its invoice. The cash gap grows with shipment volume, tying up capital that could otherwise support product development or expansion. Factoring advances cash against eligible receivables, while the supply-chain programme lets participating carriers receive payment earlier.
That matters for Sennder's network of more than 40,000 vetted carriers, many of them smaller operators carrying fuel, labour, maintenance and insurance costs before customer payments arrive. Faster settlement can make the platform more useful to carriers; for Sennder, the commercial test is whether financing more volume improves retention and service reliability without weakening credit discipline.
Profitability changes the financing mix
The package follows Sennder's October operating update. The company reported positive unadjusted monthly IFRS EBITDA, said it expects a positive full-year result and forecast about €1bn of 2026 revenue after integrating C.H. Robinson's European operations onto sennOS. It now handles more than 150,000 shipments a month.
Those remain company-reported results and forecasts, but they explain the financing design. A business that has reached operating profitability can pair insider equity with asset-backed and development-bank capital instead of funding every working-capital need through dilution. Sennder still has to show that the larger integrated network can sustain margins while it rolls out AI agents and platform services to shippers, carriers and other forwarders.
Sources checked:
Eurotransport · BCR Publishing · Sennder operating update · Sennder About · Tech.eu equity component · Tech.eu financing component
