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Saudi-backed TruKKer secures $10m venture debt from US firm


DUBAI: TruKKer, the region’s first on-demand truck aggregator, has raised a $10 million strategic venture debt from Silicon Valley-based firm Partners for Growth (PFG).
The logistics firm, which is backed by Saudi investors and often referred to as “Uber for trucks,” has secured what has been described as the largest-ever venture-debt in Middle Eastern tech history.
Founded in 2016, TruKKer also raised $23 million last year in a Series A funding round that included STV, IFC and Endeavor Catalyst. The new deal will mark PFG’s first investment in the region.
TruKKer is a majority Saudi-owned company with other investors from the Kingdom including Riyadh Capital and Riyadh Taqnia Fund. ....

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UAE start-up Trukker mulls public listing as it looks to expand


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Trukker, a UAE start-up that provides an Uber-like service for trucks, is preparing for a potential listing as it aims to raise fresh funds to propel regional growth, its founder said.
“In a few years, maybe sooner than we expect, a listing on the Saudi Tadawul is likely,” Gaurav Biswas, the company’s founder and chief executive, told
The National.
“Trukker has most of the top regional and international funds as investors and we are working towards a strong equity raise in H1 2021 … to further concrete our regional dominance and expand into other markets, added Mr Biswas, who did not disclose further details related to the potential listing. ....

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Middle East's 'Uber for Trucks' to Seek New Funding, Weighs IPO


Matthew Martin, Bloomberg News
A haulage truck drives along a highway in Budapest, Hungary, on Wednesday, April 8, 2020. Across the globe, truckers are encountering delays along distribution chains snarled by the coronavirus pandemic. Photographer: Akos Stiller/Bloomberg
, Bloomberg
(Bloomberg) Trukker, a UAE-based startup that provides an Uber-like service for trucks, is planning to launch a new fundraising early next year and could eventually be listed on a regional stock exchange.
“We think that given the potential size of this market, it would be hard to keep Trukker private,” founder and Chief Executive Officer Gaurav Biswas said in an interview. “So a listing perhaps in Saudi Arabia is probable, or you could see some global consolidation.” ....

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UAE-based Trukker seeks new funding, weighs IPO


UAE-based Trukker seeks new funding, weighs IPO
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Trukker raised $23m last year in one of the largest Series A funding rounds in the region
December 17, 2020
Trukker, a UAE-based startup that provides an Uber-like service for trucks, is planning to launch a new fundraising early next year and could eventually be listed on a regional stock exchange.
“We think that given the potential size of this market, it would be hard to keep Trukker private,” founder and chief executive officer Gaurav Biswas said in an interview. “So a listing perhaps in Saudi Arabia is probable, or you could see some global consolidation.” ....

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UAE's Trukker May See Next Rounds of Funding in the Early Parts of 2021


UAE s Trukker May See Next Rounds of Funding in the Early Parts of 2021
Photo : Screenshot from Trukker Technologies Official YouTube Channel
Apps and services inclined to provide booked trips for vehicles continue to become familiar around the world. Now, Trukker, a startup from the United Arab Emirates (UAE) may potentially see more funding for their app which offers services just the same as the likes of Uber, but for trucks.
The company which was founded in 2016 tends to launch a new fundraising round which is currently set for the early parts of the next year. They may also see a possible listing of their own company name to their regional stock exchange, which is a significant leap on the overall financial and funding aspect of their company to continue the operations of their app and services. ....

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