Yango Group Invests in Pakistani Fintech Platform Trukkr

Yango Group, a technology firm based in the UAE, has made its initial investment in Pakistan through Yango Ventures by acquiring a stake in Trukkr, a fintech platform, according to a recent announcement.

According to the statement, the funding will enable Trukkr to grow its business, improve its credit assessment capabilities, and broaden the availability of financial services to thousands of trucking companies throughout Pakistan.

Yango will offer Trukkr product knowledge and insights gained from operations in more than 30 international markets in addition to financial resources, assisting the company in growing more quickly and building stronger foundations for expansion. The agreement signifies the company’s entry into the Pakistani startup market and demonstrates Yango’s dedication to encouraging long-term digital growth in its markets.

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Yango Ventures, a corporate venture fund with $20 million in capital from Yango Group, aims to support startups in the MENAP (Middle East, North Africa, Afghanistan, and Pakistan) region, Sub-Saharan Africa, and Latin America.

Through Yango Ventures, the company offers early-stage businesses not just funding but also worldwide experience in ride-hailing, e-commerce, fintech, and artificial intelligence (AI), assisting them in scaling successfully and sustainably.

Daniil Shuleyko, CEO of Yango Group, stated in the statement that Pakistan’s logistics sector has a lot of promise, and Trukkr is helping to advance it by giving operators the financial resources they need to expand and succeed in a cutthroat market. With expertise and technology, Yango is here to support that change. This is the kind of local innovation Yango wants to help flourish, and it’s only the beginning of work in Pakistan.

Sheryar Bawany, CEO of Trukkr, commented that they are thrilled to be working with Yango Group and that their knowledge of building cutting-edge logistics technology and implementing it in over 30 countries will enable Trukkr to improve its offerings in Pakistan and beyond, in addition to their strategic equity investment.

Trukkr obtained a non-banking financial company (NBFC) license and secured $6.4 million in a funding round in 2023.

According to information on its website, Trukkr is a digital logistics platform that provides SaaS (Software-as-a-Service) solutions with integrated finance capabilities to increase efficiency for all parties involved in the logistics industry.