Entering Pakistan startup ecosystem, UAE-based Yango Group acquires stake in fintech Trukkr
The investment would help Trukkr expand its operations, strengthen its credit-scoring tools, and improve access to financial services for thousands of trucking businesses across Pakistan, the statement said.
'In addition to capital, Yango will support Trukkr with product expertise and insights from over 30 global markets — helping the company scale faster and build stronger foundations for growth. The deal marks the company's entry into the Pakistani startup ecosystem and reflects Yango's commitment to supporting long-term digital growth across its markets.'
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Yango Ventures is a $20 million corporate venture fund of Yango Group aimed at supporting startups in MENAP (Middle East, North Africa, Afghanistan, and Pakistan region), Sub-Saharan Africa, and Latin America.
Through Yango Ventures, the company provides early-stage companies not only with capital, but also with global expertise in ride-hailing, e-commerce, fintech, and artificial intelligence (AI) — helping them scale effectively and sustainably.
'Pakistan's logistics sector is full of potential, and Trukkr is helping move it forward — by giving operators the financial tools they need to scale and succeed in a competitive market. We're here to support that transformation with our experience and technology. This is the kind of local innovation we want to help grow, and it's just the start of our work in Pakistan.' Daniil Shuleyko, CEO of Yango Group, was quoted as saying in the statement.
'We are excited to partner with Yango Group, in addition to their strategic equity investment, we find that their experience in building state of the art logistics tech and deploying it in over 30 countries will allow us to strengthen our offerings in Pakistan and beyond' said Sheryar Bawany, CEO of Trukkr.
In 2023, Trukkr raised $6.4 million in a funding round and also received a non-banking financial company (NBFC) licence.
According to the information available on its website, Trukkr is a digital logistics platform that offers SaaS (Software-as-a-Service) solutions with embedded finance capabilities to drive efficiency for all stakeholders across the logistics spectrum.
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