TruKKer, a Saudi-headquartered digital freight network, has successfully completed its Series B equity and debt funding round.
The investors in the fundraising included ADQ, Abu Dhabi Developmental Holding Company and Riyadh-based venture capital fund STV, with participation from Mubadala Capital Ventures. Existing investors Riyad Taqnia Fund, backed by Public Investment Fund, and Shorooq Partners also took part in the funding round.
TruKKer also raised financing in venture debt from Mars Growth Capital, a Liquidity Group and MUFG joint venture fund.
Founded in 2016, TruKKer is a digital freight platform with a large presence in the Middle East and Central Asia region with enterprise consumer base across the UAE, Saudi Arabia, Egypt, Pakistan, Bahrain, Jordan, Oman and Turkey, and operating a fleet of more than 40,000 trucks.
TruKKer plans to use the capital injection to expand its presence in the Middle East and Central Asia through the launch of new products and features. It follows TruKKer’s prior equity fundraising round in 2019, which was one of the largest Series A funding rounds in the region at the time.
White & Case has advised TruKKer on this transaction. The team was led by partners Steven Worthington (Abu Dhabi, pictured left), Ali Shaikley (Dubai, pictured center) and Claire Matheson Kirton (Dubai, pictured right), and included local partners William Watson (Dubai) and Alex Cullinan (Johannesburg), counsel Claudio Medeossi (Dubai) and associates Philip Vavalidis, Mikaela Nikolausson and Noren Bhulji (all Dubai) and Hugh Brunjes (Abu Dhabi).