Home GCC Saudi Arabia Saudi’s Trukker raises $96m in equity, debt funding The deal follows a $23m equity raise in 2019 by Zainab Mansoor February 14, 2022 Saudi-headquartered freight network, Trukker, has completed a $96m funding round, it announced on February 14. The funding round consists of Series B equity and debt funding, with the former led by Abu Dhabi-based investment company ADQ and Riyadh-based venture capital fund STV, along with Mubadala Investment Company. Existing investors Riyad Taqnia Fund and Shorooq Partners and others also participated in the round. We’re excited to announce our $96M Series B funding led by several marquee equity and debt investors including @Adq_Official @Mubadala @STVcapital @Liquidity_Group and @PFGrowth https://t.co/S8vRrk59A5 #thankatrucker #technology #innovation #growth #landfreight — TruKKer (@TruKKerTech) February 14, 2022 The business has raised a $50m venture debt from Mars Growth, a Liquidity Group and MUFG joint venture fund and San Francisco-based Partners for Growth (PFG) backed by the Silicon Valley Bank. The latest funding round follows a $23m equity raise by Trukker in 2019. Read: UAE-based Trukker seeks new funding, weighs IPO Currently, Trukker has a fleet of over 40,000 trucks and more than 700 enterprise customers across eight countries. “Trukker’s growth has been exponential, both in our home markets of Saudi Arabia and the UAE, and in new markets across North Africa and Central Asia,” said Gaurav Biswas, founder and CEO, Trukker. “We are constantly improvising on our launch playbook that allows us to rapidly launch new markets followed by scaling our offering in them. At the same time, the core market teams are becoming more data and analytics driven in business processes to ensure improving user experience, setting standards, and leading the sector’s direction.” Other investors in Trukker include PIF-backed Riyad Taqnia Fund, IFC (World Bank Group), Shorooq Partners, Endeavor Catalyst Fund, Oman Technology Fund, MEVP, Iliad Partners, and 500 Startups, among others. Tags Equity freight Saudi Arabia Trukker Venture Debt 0 Comments You might also like Saudi Arabia posts $8bn Q3 deficit as lower oil prices weigh UAE’s Julphar divests Zahrat Al Rawdah Pharmacies Will they or won’t they? Talk of Saudi cutting oil prices for Asia Saudi PIF signs MoUs with Japanese lender worth up to $51bn