Global law firm Ashurst has advised Ofload in its successful A$60 million fund raise.
Ofload is an Australian logistics start-up that delivers a digital road freight platform connecting some of the country's largest companies with transport operators. This enables shipments to be delivered more quickly, affordably and sustainably by utilising previously unused truck capacity.
The equity component of the fund raise was led by Jungle Ventures, one of Singapore's largest VC funds, and supported by King River Capital, Lineage Ventures, Maersk Growth, and Foundamental. Two thirds of the raise was equity, one third was made up of debt provided by Liquidity Group fund Mars Growth. The debt was raised specifically to fund acquisitions. In September, Ofload acquired freight services specialist CIA Logistics.
Lead partner Stuart Dullard commented:
"Ashurst is proud to have advised Ofload on this milestone. We are excited to watch Ofload's next business chapter unfold."
The Ashurst team was led by Stuart Dullard, who was assisted by: senior associate Tom McCann and associates Rebecca Karpin and Jack Jones (Corporate Transactions) and partner Kenneth Tang and senior associate Sophia Cook (Global Loans).
