Germany will be Uber Freight’s second market to go live on the continent after the Netherlands, according to Reuters, with further expansion in prospect once operations are running smoothly in one of Europe’s largest economies.
In the US, Uber Freight already connects 48 states and generates more than USD 125 million in quarterly revenues. Before making the move towards Germany, Uber has consulted German officials and industry to win support for its freight business. Here, the company will compete with local players, including Germany-based startup sennder, which has raised USD 70 million from private equity house Lakestar and other investors at a USD 300 million valuation, and which already has a wider presence in Europe.
Other technology players in the freight forwarding sector include Flexport, a full-service platform based in the US that raised USD 1 billion earlier in 2019 from investors led by Japan-based Softbank Group. UK-based Zencargo and FreightHub have also taken in investments of late.
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