Business Central Admin Truck It In, a Pakistani trucking marketplace, recently raised $3 million in an extension of its pre-seed round, thereby closing it with a total of $4.5 million. $1.5 million of the funds were raised by the company five months prior to this.
The investment came from Global Founders Capital and Fatima Gobi Ventures, with participation from Picus Capital and Zayn Capital as well.
Truck It In is a tech company seeking to make road freight more efficient and effective for businesses across Pakistan by helping to connect shippers with truckers through its online platform. Its platform enables efficient load-matching, freight booking, dispatching and delivery services that bring control, visibility and reporting to the road freight industry, through the company’s web portal and mobile apps.
Muhammad Sarmad Farooq, the co-founder and CEO of Truck It In, said in a statement, “we’re at the very early stages of transforming a critical industry and aim to help over 3 million businesses save $1 bn annually in supply chain inefficiencies. Our long-term aim is to streamline and digitize the logistics sector to create a ripple effect across the economy.”
Tito Costa, a Partner at Global Founders Capital, said, “in only a few months since launch, we have seen an overwhelming market response to Truck It In’s offering. We are honored to increase our commitment and support the team as they scale even faster to capture this opportunity in Pakistan.”
Ali Mukhtar, General Partner at Fatima Gobi Ventures, said, “our thesis has been well-placed in Truck It In’s team to streamline Pakistan’s legacy trucking sector and drive rapid growth in the business. We are confident in their ability to further scale across Pakistan and beyond.”
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