Peripass Secures €7.5 Million to Digitize the Logistics Sector Globally
Belgium, February 1, 2024 – Peripass, the leading SaaS scale-up revolutionising logistics sites by digitally organising truck movements, has successfully secured funding to accelerate its global expansion. The €7.5 million investment, sourced from the Belgian fund ‘Welvaartsfonds’ and Groep Van Overstraeten, reflects investors’ confidence in Peripass’ innovative yard management software and the growing demand for digital solutions in the logistics sector.
The current labour shortage in the logistics and transportation industry is forcing companies to evaluate their processes and embrace digital transformation. This trend is already evident on the factory floor, where significant investments are being made to optimise production efficiency. However, similar efficiencies are often lacking in the yard, and this is where Peripass comes in.
By digitally streamlining trailer movements, Peripass successfully reduces driver waiting times by up to 70%. This not only improves efficiency and comfort but also significantly reduces CO2 emissions and the number of accidents, resulting in considerable cost savings for logistics sites.
While this innovation is highly beneficial, only 10% of the market currently uses an automation platform for logistics operations. Peripass aims to equip 1,000 sites with yard management software by 2030, improving the daily waiting times of over 150,000 truck drivers.
To achieve this ambition, Peripass attracted additional capital. The financing round, led by ‘Welvaartfonds’ and building on previous investments from the Van Overstraeten Group, garnered enthusiasm from Roald Borré, Portfolio Manager at ‘Welvaartsfonds’: “Peripass has an impressive vision for the future of manufacturing and logistics sites. In a sector where every second counts, drivers often face unnecessary delays. We were impressed by the innovative solution, the proven return on investment, and the team’s passion. We look forward to helping Peripass achieve its global ambitions.”
Global expansion
Today, Peripass operates in 13 countries and already generates more than 75% of its turnover abroad. The company wants to increase this even further: “Our customers often have locations in different countries and continents. They have experienced the value of Peripass on their European sites and are now asking us to follow them across the globe,” says Leander Naessens, CEO of Peripass.
With the capital raised, Peripass will focus on building a global partner network. Additionally, it will strengthen its existing commercial teams in France, the UK and Germany. To maintain its leading position as the most innovative solution available on the market, it will also continue to invest in simplifying the daily tasks of truck drivers and logistics staff through its self-service technology. This technology allows drivers to register and process documents in their language and to receive information via SMS about loading and unloading locations and times, also in their preferred language.
Looking ahead, Naessens sees a lot of potential: “Currently, truck parking areas sharply contrast with the high degree of automation in production halls. However, in a future where self-driving, autonomous vehicles become a reality, they will also enter logistics sites. Effective management is crucial to ensuring the safety and optimal utilization of these vehicles. Peripass plays a significant role in preparing for that future.
About Peripass
Peripass was founded in 2016 by CEO Leander Naessens and Youri Van der Zwalmen, driven by the vision of enabling yards to operate autonomously. The SaaS scale-up empowers industrial and logistics companies, including Danone, Kellogg’s, Vandemoortele, Saint-Gobain, and ArcelorMittal, to manage the entire flow of trucks entering and exiting their premises, achieving efficiency gains of up to 70%. With offices across the Benelux, DACH, France, and the United Kingdom, Peripass aspires to grow into a team of over 100 employees by 2024. Peripass won the Audience Award at the Supply Chain Awards 2022 and has been recognized as a “Trends Digital Pioneer” in the Production & Logistics category.
About ‘Welvaartsfonds’
‘Welvaartsfonds’ is the joint commitment of the private and public sectors to contribute to economic recovery. The funds from ‘Welvaartfonds’ will aid in rapidly restoring the Flemish economy to pre-corona levels and addressing potential solvency issues faced by Flemish companies due to the COVID-19 crisis or subsequent crises. The Prosperity Fund also finances opportunities arising for Flemish companies in the wake of these crises. In addition to the Flemish government, which invests in the Prosperity Fund through PMV, other contributors include AG Insurance, Allianz Benelux, Baloise Belgium, Belfius Insurance, BNP Paribas Fortis, Ethias, The Federal Holding and Investment Company, KBC, and the P&V Group, all committed to accelerating economic recovery.
