Riyadh - Mubasher: MENA-based digital freight network TruKKer secured an inaugural trade receivables securitization facility of up to $300 million arranged and funded by Abu Dhabi Commercial Bank (ADCB).
The transaction, among the GCC’s first multi-jurisdictional, is backed by portfolios of trade receivables across the UAE, Saudi Arabia, and Turkey, according to a press release.
The financing was structured as a non-recourse securitization using a Murabaha facility harmonized across multiple legal jurisdictions. It will be utilized to support the expansion of TruKKer’s digital freight network, carrier optimization, and continued regional growth.
Founder and CEO of TruKKer, Gaurav Biswas, commented: “This transaction is a milestone not only for TruKKer but also for the broader regional technology ecosystem. It gives us access to working capital at benchmark pricing and marks an important step in the evolution of our capital strategy.”
He added: “Transitioning from traditional equity funding to structured, non-recourse securitization requires an institutional-grade technology and financial backbone.”
The successful closing of this facility ensures TruKKer is well-capitalized to expand its digital network footprint, boost its carrier network, and continue disrupting the multi-billion-dollar freight industry.
