MECHELEN, Belgium, Jan. 11, 2019 /PRNewswire/ -- European tech investor 42CAP has partnered with 10x Group to invest 2 million Euros in Customs4trade (C4T), developers of a comprehensive customs and trade compliance platform. C4T's Software as a Service (SaaS) solution, CAS, enables companies to centralise, automate, and manage both regional and worldwide customs and trade compliance in-house, within one single platform. So far, the company has grown with seed funding provided by founders Pieter Haesaert and Ilse Vermeersch. The founders have also invested a stake in the Series A financing round. The investment money will be used to expand the current C4T product team, further enhance software functionality, and build out a sales and marketing organisation.
"The obstacles for companies to structurally deal with customs and trade compliance and effectively manage this domain exposes them to great vulnerability, and the topic has become a key agenda item in the boardroom," said Pieter Haesaert, CEO of Customs4trade. "CAS is designed to empower the customs manager and his or her team to gain visibility and be in control of their processes and flows instead of constantly putting out fires. Enterprises understand very well that customs compliance should be an integral part of business administration but struggle to find solutions that fit their organisation."
CAS is a unique solution that integrates the complex mechanics of customs legal requirements with an organisation's ERP or WMS systems and processes via a straightforward user interface. The C4T team embarked on development by rethinking the fundamentals of customs compliance—recognizing patterns, standardising work flows, and simplifying tasks for specific users. The result, CAS, is a scalable, multi-country, multi-language solution that streamlines customs compliance for leading manufacturers including Honda Motor Europe, Isuzu Motors Europe, Agristo, Reynaers Aluminium.
"Customs4trade has developed a software solution that is unique to the marketplace and fills a defined need. We see great potential for global expansion and are excited to support their growth," shared Alex Meyer, investor and partner at 42CAP.
Customs4trade's (C4T) unique team of customs experts and best-of-breed technology engineers has developed CAS, a one-of-a-kind software solution that automates customs and trade compliance.
CAS is a collaborative hub, designed to manage regional and worldwide customs and trade compliance quickly and accurately, within one single platform. By automating all import and export processes, C4T clients experience faster time to market, eliminate customs duty and administration costs, and gain strategic visibility into their customs operations.
Built on the Microsoft Azure platform and delivered as a Service (SaaS), CAS provides clients with continual updates and feature enhancements, including the incorporation of any changes to legislation and compliance regulations—along with Azure's signature accessibility, scalability, and security. Based on the quality of the solution and its potential to solve a real business challenge for Azure customers, C4T has achieved prioritized status in Microsoft's IP Co-Sell Program.
With hundreds of thousands of EU companies bracing for Brexit, forward-thinking customs managers are turning to C4T to prepare their organizations for a seamless transition.
Or visit: www.customs4trade.com
42CAP is a European seed-stage investment fund focused on technology companies with the ambition to take their businesses global. Prior to founding 42CAP, its lead investors Alex Meyer and Thomas Wilke built one of Europe's largest SaaS start-ups, eCircle. They sold the profitable company to Teradata (NYSE: TDC) in 2012. Core to 42CAP's investment approach is their "Peers Amongst Entrepreneurs" conviction; working as peers to share their fundamental values. These include their belief in technology- and data-driven business models with sustainable approaches and a true passion for entrepreneurship. For more information, visit www.42cap.com.
About 10x Group
10x Group is comprised of serial entrepreneurs and technology venture experts that support strong founding teams in second seed-stage companies. 10x Group focuses their funding on companies that have introduced a disruptive technology with proven market acceptance and traction, poised for significant growth. The company's leadership has founded and invested in over 100 early-stage digital and technology start-ups spanning Europe and Silicon Valley. For more information, visit www.10x.group.