Release date: 3 January 2022
Promoter – Financial Intermediary
INSTAFREIGHT GMBHLocation
Description
InstaFreight is a Berlin-based digital freight forwarder that connects large shippers with small independent carriers using software technology.
Additionality and Impact
The project supports the policy objective of support for SMEs, as well as innovation and digitalisation by providing tailored venture debt financing to InstaFreight, an innovative start-up, offering digital freight-forwarding services through its platform that intelligently connects shippers and carriers through its operations in Germany and Poland.
The financed developments are expected to lead to positive RDI externalities by supporting transparency and efficiency in logistics processes, enabling better utilisation of existing carrier capacities and road infrastructures.
EIB's financial contribution facilitates the SME's sustainable growth and helps to maintain its technological edge, despite the adverse economic conditions resulting from the COVID-19 outbreak. Furthermore, it provides a positive signalling effect to crowd-in further financing from private investors.
Objectives
The objectives of the EIB financing are to support the company to mitigate the impact from the COVID-19 pandemic and to execute its growth investments, mainly in research and development (R&D) and commercial expansion.
Sector(s)
- Services - Information and communication
Proposed EIB finance (Approximate amount)
EUR 25 million
Total cost (Approximate amount)
EUR 38 million
Environmental aspects
The project activities do not fall under the Annexes I or II of the EU Directive2014/52/EU amending the EIA Directive 2011/92/EU. The project will be carried out in existing facilities, already authorised, that will not change their scope due to the project. As such, the project activities are not subject to a mandatory environmental Impact assessment (EIA).
Procurement
The Promoter is a private company not operating in the utilities sector and not having the status of a contracting entity, and thus is not subject to EU rules on public procurement. Under these conditions, the procurement procedures followed by the Promoter are suitable for the project.
Status
Signed - 26/10/2021
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).