Dubai
TruKKer, the region’s first on-demand truck aggregator, has raised a $10 million strategic venture debt from Silicon Valley-based firm Partners for Growth (PFG). The logistics firm, which is backed by Saudi investors and often referred to as “Uber for trucks,” has secured what has been described as the largest-ever venture-debt in Middle Eastern tech history. Founded in 2016, TruKKer also raised $23 million last year in a Series A funding round that included STV, IFC and Endeavor Catalyst. The new deal will mark PFG’s first investment in the region. TruKKer is a majority Saudi-owned company with other investors from the Kingdom including Riyadh Capital and Riyadh Taqnia Fund.—AN
