Trukkr has raised $6.4M in SEED funding led by US-based Accion Venture Laband London-based Sturgeon Capital. Haitou Global, Al Zayani Venture Capital, and angel investors also participated in the round. Trukkr offers Pakistan’s small- and medium-sized trucking companies a transport management system and supply chain solutions and provides fintech to digitize the largely unbanked and undocumented industry.
While regional investors have been backing Pakistan-based startups, the country is one of the emerging markets that boasts high international investor participation.
Trukkr said less than 5% of trucking companies using its platform have access to financial services, often having to wait up to 90 days for payments and leaving them unable to cover expenses such as fuel, tolls, and truck maintenance.
Pakistan’s $35 billion a-year trucking industry is growing at 10% annually despite limited rail and water freight infrastructure.