The UAE-based digital freight platform TruKKer has closed an asset-backed securitization facility of up to $300 million, signaling a strategic shift towards sophisticated debt financing as it scales its operations across the region.
Quick Facts
- Facility Amount: Up to USD 300 million
- Financing Type: Trade receivables securitization
- Lead Bank: Abu Dhabi Commercial Bank (ADCB)
A Shift From Equity to Structured Debt
In a move that bypasses traditional venture capital, TruKKer has tapped institutional credit markets for growth capital. The deal, structured as a non-recourse facility, is backed by the company’s trade receivables across the UAE, Saudi Arabia, and Turkey.
This financing structure highlights growing confidence from major regional banks in the cash flows generated by MENA’s large-scale technology platforms. By leveraging its predictable receivables, TruKKer can access significant capital without further diluting equity, a model that could become more common for mature startups in the region. Abu Dhabi Commercial Bank (ADCB) acted as the sole arranger and lender for the bespoke murabaha-based facility.
Fueling Regional Logistics Growth
The capital is set to directly support the expansion of TruKKer’s digital freight network, which uses an AI-driven marketplace to connect shippers with carriers. The company will use the funds to optimize its carrier operations and strengthen its market presence across MENA and Central Asia.
“The facility represents a key inflection point in our journey to build the ‘Uber of Trucks’ for the region, while supporting the development of logistics as a core enabler of our economies,” said Gaurav Biswas, Founder & CEO of TruKKer.
The complex legal structure of the transaction was advised by global law firms White & Case LLP and Paul Hastings, with HSBC acting as Facility Security Trustee and Account Bank.
About TruKKer
Founded in 2016 by Gaurav Biswas, TruKKer is a digital freight network operating across MENA and Central Asia. The company runs a technology-enabled freight marketplace that uses AI to match freight demand with carrier capacity in real-time, aiming to bring efficiency to fragmented logistics markets.
Source: Waya
