Forto (Down Round & Layoffs)
Berlin digital-freight unicorn Forto raised $590M from SoftBank then conducted multiple layoff rounds and a reported steep down-round as ocean freight rates normalized in 2023.
2016 → 2023
$590M
Logistics/Freight Forwarding
Germany
Full Analysis
Berlin-based Forto (formerly FreightHub) was Europe's most-funded digital freight forwarder, raising $590M+ from SoftBank Vision Fund 2 and Citi Ventures at a $2.1B valuation in 2022. As ocean freight rates collapsed 70%+ from 2022 peaks, revenue plummeted. Forto conducted layoffs of ~30% of staff in 2023 and accepted what was reported as a significant down-round in 2024. A representative European digital-logistics failure of the post-COVID freight bust.
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