LONDON, UK: On 13 September 2022, The Apax Digital Fund II (ADF II) announced an investment in Xeneta, a leading ocean and air freight rate benchmarking and market analytics platform, as part of an $80 million funding round led by ADF II.
As organisations undergo efforts to navigate instabilities in the current uncertain market, access to readily available and actionable freight rate data has emerged as a strategic priority. With this investment, Xeneta will accelerate investments in platform development and continue scaling its global commercial teams.
This will support expansion into new markets as companies seek to develop resilient supply chains to counter global trade volatility. Following the investment, the Apax Digital Funds will work closely with Xeneta to help cement the company’s leading position and continue to drive penetration, leveraging several value creation leavers to help fuel growth.
In 2021 AGA made a commitment of $90m to ADF II. On a look through basis, AGA is expected to invest approximately €3.5m in Xeneta. Note that these figures relate to AGA’s look through position of ADF II’s investment in Xeneta and are stated before taking into account any closing adjustments and are translated into Euro based on today’s exchange rates where applicable.1
“While global trade tries to get back on its feet after a couple of years of uncertainty, it’s clear that the overall logistics industry requires a re-think of how freight is bought and sold. This new funding will help us accelerate development of our platform and add even more datasets to enrich our expert industry analyses to further drive transparency in the market,” said Xeneta CEO and Co-founder Patrik Berglund.