Funding Positions Digital-First Customs and Trade Management Pioneer for Global Expansion in the €50 Billion Industry
Customs4trade (C4T) the Belgium-based pioneer in digital-first customs management, announced the closing of €17 Million in Series C funding led by 83North a global venture capital firm with $1.8 billion capital under management. The investment positions C4T for worldwide expansion, continuing to set the standard for the next generation of customs management.
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Customs is important for all businesses involved in international trade and is time critical for a fluid supply chain. In an industry notorious for its complexity and fragmentation, C4T simplifies customs and trade with its SaaS solution, CAS, which was designed as a unique global standard to overcome the challenging variations between countries and disconnected local solutions. CAS connects corporations, logistics service providers, customs brokers, and customs authorities with a centralised, multi-country platform that has built-in legal compliance.
C4T has helped customers across industries, including retail, automotive, high tech, manufacturing, raw materials, and fast-moving consumer goods, accelerate international commerce, realise duty and administrative savings, and adapt to massive changes in trade, including Brexit. A CAS subscription can save companies up to 90% on customs administration and bottom-line duty costs. Logistics providers have the possibility to expand and increase their revenue 10-fold with CAS’s comprehensive, multi-country functionality.
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“There’s a coming-of-age of tech and the ability to build phenomenal companies in Europe,” commented 83North partner Laurel Bowden. “We believe Customs4trade will set the standard for their category and go on to achieve the exceptional.”
“This investment will allow C4T to expand sales from European regions to the USA and accelerate integration with customs systems around the world, solidifying CAS as the global standard for customs and trade management,” said C4T CEO and Founder Pieter Haesaert. “It is through people that we gain success, so hiring talent will be key to our growth strategy,” added Ilse Vermeersch, COO and co-founder.
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