Truck It In Raises $4.5 Million in the Trucking Industry's Largest Pre-Seed Round.

Truck It In, a marketplace that solves road freight inefficiencies in Pakistan, announced a $3 million extension of its pre-seed round, bringing the total investment to more than $4.5 million in a little over four months, making this the biggest amount at this stage in the trucking sector.

The extension will aid Truck It In's nationwide growth as it is striving to become the country's biggest transportation platform. Global Founders Capital and Fatima Gobi Ventures lead the expanded round, reaffirming their faith in the team and the potential. Picus Capital and Zayn Capital have joined them.

Previous pre-seed investors have included Deosai Ventures, Zayn Capital, and +92 Ventures. In addition, truck It In has collaborated with key investors who are assisting it in tapping into its local supply chains and utilising its regional relationships for the next development phase.

Muhammad Sarmad Farooq, CEO and Co-Founder of Truck It In, said:

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, stated:

In only a few months since launch, we have seen an overwhelming market response to Truck It In’s offering," and added, " we are honored to increase our commitment and support the team as they scale even faster to capture this opportunity in Pakistan.

FGV's General Partner, Ali Mukhtar, remarked on the follow-on investment, saying,

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.

Picus Capital Collaborate and Managing Director Florian Reichert said, “We are excited to partner with the team of Truck It In which in our view is in a prime position to establish themselves as the leading trucking marketplace in Pakistan.

Their vision of building a holistic value proposition for shippers and truckers is what stood out and finally convinced us to become active in the space.”

With this new fundraising, Truck It In will extend its services and product features, allowing it to grow to the next level.

It is making significant progress in realising its goal of digitising the transportation sector and capturing market share.

Truck It In is a digital start-up that aims to make road freight more efficient for Pakistan's more than three million companies. It was established in late 2020 by Muhammad Sarmad Farooq, Raza Afzal, and Haider Navid.

Truck It In, powered by a robust technological platform, an enormously skilled staff, and an insatiable appetite for development, is on a mission to help companies expand and operate effectively by linking them directly to a highly fragmented trucker's market.

This potential represents 10% of Pakistan's GDP, and the firm aspires to be the country's nexus of road freight, assisting companies in scaling while improving the lives of its drivers.