CO3, die sennder-Ausgründung, kauft das norwegische Logistik-Datenunternehmen Kinver in einem Cash-Deal über 100 Prozent der Firma.
Die kombinierte Firma bündelt mehr als 600 APIs entlang der Logistikkette, wobei Kinver die Kostenseite und CO3 das Operative beisteuert.
CO3 ist an der Grenze zur Profitabilität und cashflow-positiv und erwartet für das kommende Jahr Wachstum bei Kunden, Schnittstellen und angebundenen Assets.
CO3 buys Kinver to own freight's data layer
CO3 is a bet that freight's data layer has to sit outside any freight forwarder. sennder became good at finding truck capacity but never saw what happened on the road, so it spun out a neutral platform in 2025 that connects to trucks and trailers. Its first acquisition, Kinver, adds the cost side, and CO3 judged the deal mostly on an interface portfolio it could not have built in a year. Schefenacker sells only where customers can count the gain.
Takeaways
Kinver adds the cost side to CO3. CO3 bought 100 percent of Kinver in an all-cash deal. Kinver shows which carrier causes which costs, which extra charges appeared and whether they match contract terms. CO3 supplies the operational view of the network, Kinver the cost view.
Long-term value sat in the interfaces. Building Kinver's capability alone would have taken one to one and a half years. The valuation rested on the customer base and the team, while the long-term value sat in the interface portfolio. The combined company runs more than 600 APIs along the logistics chain.
Every customer talk is a business case. Only quantifiable value counts, either more growth or equal or lower costs at higher revenue. Customers consolidate their data on one platform and increasingly run AI agents on it, saving time and improving quality.
sennder's deals taught integration lessons. sennder has bought six or seven companies and paid tuition on team integration, which host Jan Thomas calls sometimes a horror. That history shaped how CO3 approached its first acquisition.
CO3 funds itself and nears profitability. The operating business is cash-flow positive and close to profitable. Schefenacker tracks revenue and recurring revenue. He also watches the number of interfaces and data points, and how many assets are connected. Customer contracts run two to three years on average.
Customers are next year's first metric. Growth should show up in the interface portfolio and in tracked assets, with customer growth as criterion number one. CO3 serves large forwarders, construction firms and distribution across 35 countries.
From sennder to CO3
sennder built the digital version of a freight forwarder and got good at finding transport capacity for large shippers.
It long did not understand what happened on the road, which trucks arrived on time and where delays and extra costs arose.
The board and all investors backed a separate company because a freight data platform has to be neutral and independent, and data grows more valuable in the AI transformation.
CO3 was spun out in 2025. Schefenacker works full time for CO3 and stays on sennder's board, while Julius and David keep building sennder.
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