42516 - Trukker

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Summary of Investment Information

Project Number

42516

Company Name

TRUKKER HOLDING LIMITED

Date SPI Disclosed

May 23, 2019

Country

Middle East, Pakistan, and Afg Region

Region

Middle East

Projected Board Date

Jun 28, 2019

Environmental Category

B - Limited

Status

Active

Last Updated Date

Jun 12, 2021

Department

Equity Portfolio Management

Industry

Infrastructure

Previous Events

Approved : Aug 8, 2019
Signed : Nov 14, 2019
Invested : Dec 4, 2019

Sector

Other Support Activities for Transportation (Grain Terminals, Cargo Terminals, Airport Operations)

Project Description

IFC is considering an equity investment of upto US$ 3 million in TruKKer Holding Limited (“TruKKer”).

TruKKer is a long-haul e-logistics B2B platform utilizing an “Uber for trucks” model to develop a marketplace matching cargo owners with long-haul freight needs and truck drivers who are able to service them, both domestically and cross-border.

Through its internally-developed digital platform, TruKKer is disrupting the transportation and logistics market in the Middle East offering a strong value proposition to key stakeholders in the sector including cargo owners, transporters (and drivers) and cargo recipients.

TruKKer optimally matches demand and supply of trucks, providing predictability, reliability, price transparency, and increased utilization of otherwise idle assets in the highly fragmented trucking market.

Associated Advisory Engagement

There are no Advisory Engagements associated with TruKKer at this stage. Potential collaborations will be explored as the Company scales.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	3.0

Development Impact

This Project will result in positive outcomes for the relevant parties in the logistics sector in Middle East (cargo owners and truck owners/drivers) and the market at large. Benefits for stakeholders include reduced costs and better quality logistics services for customers and increased income and ancillary services for truck drivers. Furthermore, TruKKer is expected to increase competitiveness of the logistics sector through demonstration channels. TruKKer will bring innovation into the logistics market by disrupting traditional incumbents and intermediaries, which will result in increased price transparency and efficiency at market level.

1. Own account equity: IFC will provide patient capital to an early stage company that is fast-growing 2. Knowledge, innovation and capacity building: IFC has successfully invested in six e-logistics companies across emerging markets and can provide strategic advice/facilitate introductions 3. Standard setting: IFC will help TruKKer establish environmental & safety standards from its extensive experience in transportation both locally and globally

E&S Category Rationale / Risks and Mitigation

This is a category B project according to IFC’s Policy on Environmental and Social Sustainability because a limited number of specific environmental, health, safety and social (E&S) impacts may result that can be avoided or mitigated by adhering to generally recognized performance standards and guidelines.

The e-logistics sector is fast evolving and interpretation of applicability of contractual and legal frameworks is also evolving and represents a key issue for the review. Key E&S risks and issues associated with this project are relevant to the management of the fleet of onboarded trucks and the drivers/transporters engaged in the underlying transportation and logistics business. Issues are therefore mainly related to management of employee and driver working conditions; oversight of compliance with applicable labor laws and Performance Standard 2 provisions by the company, its contractors and the truck owners/drivers; safe driving and transport emergencies, all of which can be readily managed through development and effective implementation of appropriate environmental, health and safety, and human resource policies and procedures.

Contacts

For Inquiries About the Project, Contact

TruKKer Holding Limited
Gaurav Biswas
Chief Executive Officer
+971-600-524642
Gaurav.biswas@trukker.com
One Lake Plaza, Jumeirah Lake Tower, Dubai, Office 204
www.trukker.com

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Local Access of Project Documentation

Please contact TruKKer CEO, contact details above.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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