Forto announced raising $240 million in a round led by Softbank.

Forto, a Berlin, Germany-based SAAS developer for freight business, announced completing ca pital funding round of $240 million.

The money was raised from investors led by Japanese investors Softbank, with participation from Citi Ventures, G Squared, and existing shareholders Northzone, Inven Capital, Cherry Ventures, and Unbound.

Nahoko Hoshino will join the Forto Board as a representative for SoftBank Investment Advisers.

Forto, founded in 2016 as FreightHub by Ferry Heilemann, Erik Muttersbach, Michael Wax (CEO) and Fabian Heilemann, is a digital freight service and supply chain management provider, offering transport services for sea, air and rail freight, built on digitized processes. The company employs 500 people based in offices in Berlin, Copenhagen, Hamburg, Ho Chi Minh City, Singapore, Hong Kong, and Shanghai.

Forto previously raised $50 millions from Cherry Ventures, Northzone, Inven Capital, Cavalry Ventures and Maersk Growth in 2020. In total, the company was funded with more than $100 million by VC money.