Our portfolio company Cargo Online Oy’s team was strengthened in February with a logistics expert who brought experience from the world’s metropolises and large logistics companies. The goal now is to revolutionize the bidding process for freight costs for SMEs with a “Trivago-style” model.
From world metropolis to domestic growth company
A logistics professional who has been hardened by global markets and lived in several countries – including France, Germany, and major cities like Toronto and New York – returned to Finland for family reasons and a longing for a sauna. He has a career at one of Canada’s largest logistics companies and positions as a purchasing and logistics manager in a large international company.
”My strengths are in administration, people management and above all, in-depth knowledge of logistics. The last eight years in big cities have now been replaced by nature, golf and time with family. I have found a better work-life balance here in my homeland. “, says Niko Grönstrand.
Volume power for SME freight competition
Freight logistics is a huge industry both in Finland and internationally. The core idea of Cargo Online is clear and necessary: to put companies’ freight prices on the market at once for an entire year. The concept is currently in the final stages of validation.
”We conduct annual competitive bidding for logistics services for our customers, utilizing the power of volume. We combine the procurement volumes of several of our customer companies so that even small companies can access the volume advantages of a large bidder. ”, Niko mentions.
The target group is particularly wholesalers, online stores, industry, and export and import companies that do not have their own procurement department and for which logistics costs are a significant expense.
Software development as an engine of growth and internationalization
Cargo Online has high ambitions. A software development restart is currently in the works, with the goal of completing the product’s MVP (Minimum Viable Product) later this year. The support of Startup Lions has been crucial.
”Startup Lions seem to have exactly the resources and expertise needed to take these new concepts forward. They have the perseverance, and that is what is needed at this stage. “, he states.
The plans include not only refining the core service, but also developing additional services. These include, among other things, competitive bidding for outsourced warehouses, tailored logistics consulting, and individual freight and forwarding bookings.
Share offering underway – looking for operational investors
Cargo Online is currently seeking new impetus to support growth through an ongoing share offering. The company is primarily looking for investors who can bring not only capital but also expertise to the company’s everyday life.
”We are primarily looking for investors who have something to contribute to operational activities – be it software development, marketing or sales. We are looking for partners who want to be part of building something big and internationally scalable. ”
Although work is currently intense, there is balance in my free time. A new dog has joined the family, and my German wife has started studying Finnish.
“We agreed that if he learns Finnish, I will learn German,” the logistics veteran laughs.
Further information about the share issue:
Niko Grönstrand
Partner & Business Director
Cargo Online Finland Oy
Telephone: +358 45 861 5774
Email: niko.gronstrand@cargoonline.fi