+11%

est. 2Y upside i

Vertical SaaSSeries B

Stage: growth. Country: UK

Rank

#1807

Sector

Logistics

Est. Liquidity

~4Y

Data Quality

Data: Low

Zencargo offers high-risk equity with potential moderate upside if growth continues and an exit occurs.

Last updated: July 21, 2026

Bull (30%)+80%

If IPO window opens and growth sustains, exit multiple could expand to 3.0x, yielding $180M exit; after 20% dilution net upside 80%.

Base (50%)+13%

Exit multiple converges to 2.0x, exit value $120M; after dilution net upside 13%.

Bear (20%)-100%

Exit multiple compresses to 1.0x, exit value $60M; preference stack absorbs all proceeds, common worthless.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

74%

Total funding $66.4M vs estimated valuation $90M implies 74% preference overhang, giving preferred shareholders nearly all proceeds in a down exit.

Dilution Risk

high

With no raise in over 5 years and negative cash flow, a dilutive round of ~20% is probable within 2 years.

Secondary Liquidity

none

No secondary trading observed; liquidity may be limited to exits.

Questions to Ask at the Interview

Strategic questions based on Zencargo's data — designed to show you've done your homework.

  • 1

    “How does Zencargo maintain moat against Flexport and traditional freight forwarders?”

  • 2

    “What is the path to profitability given current burn rate?”

  • 3

    “How do you evaluate equity value given the stale round and preference overhang?”

Community

Valuation Sentiment

Our model estimates +11% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.