UAE-based TruKKer acquires Pakistan’s TruckSher
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The UAE-based, MENA-focused freight network TruKKer has just acquired TruckSher, Pakistan, as part of its expansion into the Pakistan land freight sector. TruKKer is backed by some of the most prominent investors from the MENA region including Saudi Arabia’s STV and Riyad Taqnia Fund(RTF), and the IFC (the World Bank group).
Founded in 2015, TruKKer currently operates a fleet of 35,000+ trucks across its primary markets of Saudi Arabia, UAE, Egypt, and other gulf economies. Eyeing expansion into the Pakistan market, TruKKer is joining forces with Lahore and Karachi-based TruckSher founded early this year. Over a short period, TruckSher has developed a strong client base in the commodities, FMCG, and electronics sectors due to its focus on operational excellence and compliance.
Signs of the freight fever appeared across both the UAE and Pakistan in the first half of the year with record-breaking deals raised in the Delivery & Logistics sector, however, Transport took a solid turn in August. As recorded in our latest August 2021 Venture Investment Dashboard, the Pakistani Transport sector observed a 289% growth in funding YoY driven by a record-breaking $85M round raised by Trucking platform Airlift. In the UAE, rounds raised by Lyve Global, Trella, and Trukkin positioned the UAE’s D&L ecosystem as the highest-funded geography in H1 2021.
Since its launch, the UAE-based startup became a key player in the land freight sector, with ground operations spreading across 17 locations in the MENA region and expanding aggressively. TruKKer’s Chief Operating Officer, Anish Garg highlighted “We have been doing our feasibility and analysis of the Pakistan land freight sector for some time now and are very excited with the opportunity it offers to digitization and adaptation of technology in this fragmented and traditional sector… We are glad to welcome the TruckSher team to TruKKer and further accelerate their trajectory to continue leading the land freight sector in Pakistan fueled by our advanced engineering products and processes.”
This is TruKKer’s first M&A towards geographic expansion. In doing so, this new merger is forming a power partnership that could scale operations in Pakistan, consolidate business acumen with Tech know-how, and form a power partnership that can result in global impact. Sharing his elation in this new merger, Abid Butt, TruckSher’s Managing Director concluded “We are very excited to work with TruKKer and look forward to accelerating our growth in Pakistan and learn from the success achieved in the MENA region”.
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