ETF Partners leads €15 million investment round into Movinga – the leading relocation platform to support its mission of digitalising the relocation logistics space.
Berlin, November 22, 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 Rocket Internet 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 underutilised 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, digitalisation 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 optimise capacity utilisation, and the company’s marketing, sales, customer care, insurance, and payment services create a superior customer experience.
Further establishment of one relocation brand in Europe
This year, Movinga has firmly established itself as the European market leader; growing its core business by more than 100 per cent the company is steering strongly towards group-wide breakeven. It acquired assets of its largest German competitor, Move24, and successfully launched Movinga Sweden. The acquisition of the biggest competitor in France positions Movinga as the clear leader also in the French market. The new funds will enable further expansion across Europe and into overseas moves. Movinga is also expanding its B2B2C business with large corporations and government bodies.
Logistics services that are smart and sustainable
With the idea of shared economy in mind, Movinga will launch an on-demand service for inner-city, short-distance relocations and furniture transport and thereby enhance sustainable mobility in urban areas. Movinga is also well positioned to drive the adoption of electric transporters and environmentally friendly practices. As of today, Movinga’s logistics optimisation already saved 6.7 million trucking kilometres, resulting in a carbon emission reduction of 3,027 tons of CO₂.
“Trucking represents a quarter of all road transport CO₂ emissions. The relocation logistics space is one of the worst offenders and has great potential for improvement. Movinga’s routing algorithms already saved thousands of tons of CO₂, and by helping to modernise and electrify trucks, the company will have an even greater positive impact”, says Arne Morteani, Partner at ETF. “Movinga’s team built the leading digital platform in a very large market, and we are delighted to contribute to its success going forward.”
“We are building a brand that represents transparency, sustainability, and superior customer care. We found that ETF shares this vision and we look forward to working with them”, says Finn Age Hänsel, CEO of Movinga. “The digitalisation of the relocation space was overdue. For sure there were complexities, but we have enhanced our processes and have proved that a profitable platform model is possible while creating immense value for our partners and customers. We see rapid adoption and are ready to accelerate”, Hänsel adds.
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