We’re happy to announce our seed investment in Oslo-based Xeneta AS. Xeneta is a cloud-based service that brings price and performance transparency to the USD 150 billion container shipping market. Container freight rates are a complicated matter: thousands of routes, complex pricing, and volatile rates over time. Shippers, freight forwarders, and shipping lines use Xeneta to see real-time container rates on any route and can easily determine the competitiveness of their prices.
Xeneta collects container price information directly from freight buyers and feeds back real-time price benchmarks. The information can be segmented on a detailed level to provide the most relevant price benchmarks. Xeneta brings value to players across the shipping supply chain:
- Shippers (freight buyers) can use the price information to monitor their supply chain costs and it provides actionable data to negotiate freight prices
- Freight forwarders can use the data to demonstrate their competitive freight rates to their customers and ensure that their prices are best in class
- Shipping lines can monitor how competitive their price and performance is relative to the market. Xeneta’s vision is to make the global shipping business more transparent thus improving efficiency for everyone.
Today Xeneta covers 95% of trade routes between the Far East and Scandinavia and is rapidly growing its coverage elsewhere in Europe and overseas.
The business exhibits many of the traits that get us really excited, for example:
- Addresses a huge market which is still relatively untouched by the internet
- Exhibits substantial network effects: the service is increasingly valuable the more participants are on the service, sharing, and receiving price information
- Provides immediate, actionable value to customers
- Has a top end user interface which customers understand intuitively and start using immediately
- Founded by a complementary team with experience both from the freight industry and online businesses
Creandum has a history of investing in successful Nordic B2B software companies such as Cint, iZettle, and itslearning. Xeneta is the first Norwegian investment in the third Creandum fund and as a result Creandum III now has invested in all the Nordic countries and Germany. We would like to welcome Xeneta to the Creandum portfolio and we look forward to working closely with the team.