Copilot Capital backs Zendr to build Europe’s leading SME freight partner 

·  B2B software investor Copilot Capital makes a majority investment in Zendr, a B2B logistics platform providing SMEs with better freight solutions via a cloud-based platform. 

·  Founded in 2020, Zendr has grown from two to 50+ employees and now serves more than 2,000 SME customers across Sweden. 

·  The investment will accelerate Zendr’s expansion across the Nordics and Europe, while also supporting platform development and targeted M&A. 

·  Zendr marks Copilot Capital’s fourth investment, with the firm also expanding its team to ten through two new associate hires. 

LONDON, UK - 2nd October 2025 - Copilot Capital, the private equity firm focused on backing Europe’s most promising software companies, has made a majority investment in Zendr, a fast-growing B2B logistics platform providing SMEs with better, more reliable freight solutions.  

The partnership will allow Zendr to accelerate its expansion across the Nordics and Europe, while continuing to invest in its technology platform, international growth, and targeted M&A activity. The European freight and logistics market is forecast to grow from $1.48 trillion in 2025 to $1.74 trillion by 2030, highlighting the scale of the opportunity ahead. 

Founded in 2020 by cousins Mathias Rebane and Johan Sund, Zendr has rapidly grown from just two employees to over 50, establishing itself as the leading digital freight partner for SMEs in Sweden. With over 2,000 customers, Zendr combines a user-friendly logistics platform with pre-negotiated carrier agreements and expert customer service, positioning itself as a true partner to SMEs. Its approach helps SMEs reduce costs and save up to 75% of the time normally spent on managing shipments, all while increasing quality throughout the shipping process.  

As part of this journey, Zendr completed its first acquisition in early 2025, purchasing GOT Solutions. It marked the first step in a broader roll-up strategy, adding shipment volumes that enable even more competitive freight rates. The company now plans to build on this momentum with Copilot Capital’s investment.  

“Zendr has built an exceptional business, solving a real pain point for SMEs that lack the logistics expertise and resources of larger enterprises,” said John Messer, Founder and Managing Partner at Copilot Capital. “We will work closely with the team to scale operations, expand into new markets, and deepen customer relationships. Supported by Zendr’s unique combination of technology and freight expertise, this will enable the business to move from Swedish leader to pan-European champion.” 

Zendr attracted strong interest from more than 20 European funds during its investment process but ultimately chose Copilot Capital for its deep understanding of the business and its founder’s vision. Beyond a strong track record in scaling founder-led software companies, Copilot Capital showed where it could make a tangible difference, from go-to-market execution and AI adoption to M&A, international expansion, and customer success, backed up with relevant portfolio examples.  

 “From the start, we’ve been obsessed with making shipping simpler for companies that don’t have big logistics teams with customs experts or procurement specialists. By combining technology with deep freight expertise and dedicated customer service, we believe we can make the world of shipping significantly better for SMEs,” said Johan Sund, Co-Founder of Zendr. “With Copilot Capital, we’ve found not just capital, but a partner who understands our vision and can help us scale into new markets. This investment will allow us to expand into the Nordics and Europe, strengthen our platform, and continue growing through targeted acquisitions.” 

“At Zendr, we see ourselves as a ‘knowledge carrier’ - helping our customers avoid errors, ship more efficiently, and raise the overall quality of their logistics,” added Mathias Rebane, Co-Founder of Zendr. “With Copilot Capital’s support, we can take our partnership-led approach to thousands more SMEs across Europe - making freight smarter, simpler, and more reliable for the businesses that need it most.”  

Zendr marks Copilot Capital’s latest investment, following its majority stakes in Relesys, SecureFlag, and PriceShape.  

The firm has also expanded its team to ten with the addition of two new associates, Olly Demaine and Farhana Atteib. Both bring strong experience in software investing, with Olly joining from Levine Leichtman Capital Partners and Farhana from KKR & Co. Inc. 

About Copilot Capital 

Copilot Capital is a lower mid-market buyout fund dedicated to growing the next generation of European software and data champions. We strategically partner with companies generating €5-€15 million in annual recurring revenue (ARR), guiding them on a path to €50 million ARR and beyond.  

At Copilot Capital, we employ proven, repeatable strategies designed to accelerate the growth of market leading products. Our active approach is built on deeply partnering with management teams and embraces calculated risk-taking to achieve excellence.  

About Zendr 

Zendr is a fast-growing B2B logistics technology platform providing SMEs with better, more reliable freight solutions. Founded in 2020 by Mathias Rebane and Johan Sund, its platform helps SMEs book, manage, and track shipments across multiple carriers, combining digital simplicity with pre-negotiated agreements and hands-on customer service. The company serves more than 2,000 customers and is a trusted freight partner for SMEs. 

Advisers 

Squire Patton Boggs LLP acted as legal adviser to Copilot Capital, while Lindahl served as local counsel. 

RSM provided financial due diligence services, Roland Berger conducted commercial due diligence, and Ringstone undertook technology due diligence. 

Lockton advised on insurance matters, BDO provided tax structuring advice, and Houlihan Lokey acted as buyside corporate finance and M&A adviser. 

Media Contacts  

CopilotPR@transatlanticent.com  

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