Berlin-based startup sennder has acquired Uber’s European freight business in an all-stock transaction that will see the freight forwarder extend its dominance in the European market.
As part of the transaction, sennder will become a minority shareholder in Uber and the companies have agreed to a customer referral programme, where sennder will refer US freight customers to Uber and vice versa.
Sennder is one of a number of freight businesses coming out of Berlin’s tech scene, aiming to digitise a still pen-and-paper industry. The company matches trucks with cargo to reduce the number of return journeys trucks do empty.
The startup, founded in 2015, has already expanded once this year, buying French freight company Everoad in June. Before that, it also established a partnership with Poste Italiane, the largest freight operator in Italy. Sennder is backed by over €120m in funding from the likes of Accel, Lakestar, HV Ventures, Scania and Project A.
“This acquisition [of the Uber business] strengthens our position as Europe’s number one digital logistics provider,” said David Nothacker, the chief executive and cofounder of sennder.
Sennder plans to establish a new office in Amsterdam, meaning it will have offices in seven countries across Europe. The company currently has 60,000 carriers and has said it aims to reach €1bn in revenue by 2024.
Uber Freight was founded in 2017, and the company only entered the German market last year.
“This collaboration with sennder allows us to further extend our reach in Europe while doubling down on our Uber Freight business in North America, and to jointly push the digital freight industry forward,” said Lior Ron, head of Uber Freight.