MICROCAPITAL BRIEF: Accion, Sturgeon Lead $6.4m Equity Round for Trukkr, Fintech Serving Trucking SMBs in Pakistan

Trukkr, a Pakistan-based financial technology (fintech) firm, recently raised USD 6.4 million in a funding round led by two impact investors, US-based Accion Venture Lab and UK-based Sturgeon Capital, with investors Al Zayani Venture Capital, Haitou Global and Peter Findley also contribute. The collapse of the financing from the investor has not been released.

Trukkr supports small and medium-sized enterprises (SMEs) and their customers in the trucking industry with financial services, job opportunities and tracking of expenses and shipments. The company was established in 2019 and since then reports having arranged 100,000 trips by 20,000 drivers for 100 companies.

Founded in 1961, Accion is a non-profit organization that seeks to alleviate poverty by providing services such as micro-enterprise loans and business training. Accion created the Accion Venture Lab in 2011 to serve as its “seed-stage investment arm.” The mission of the investment vehicle is to support “technology and [other] new approaches that help underserved people and small businesses benefit from the world’s formal economy.” The majority of Accion Venture Labs’ 54 investee companies – as of 2023 – are in the microfinance and fintech sectors.

Founded in 2006, Sturgeon Capital invests in technology startups in emerging markets, with a particular focus on early-stage fintech, business-to-business and marketplace companies. Its goals include generating positive and “far-reaching developmental impact on economies and societies.”

Al Zayani Venture Capital is a unit of Bahrain-based Al Zayani Investments Group that is “focused on investing in startups and disruptive technologies.” The venture capital firm is active in sectors including automotive, food and beverage and real estate.

Founded in 2014, Haitou Global is a US-based asset allocation platform offering wealth management, advisory and investment banking services.

Peter Findley is an investor and managing partner in the US-based venture fund Anchorless Bangladesh.

By Vaughn Rajah, Research Assistant

Sources and additional resources

Accion press release

Trukr website

Trukkr App via the App Store

The Trukkr app via Google Play

Accion website

Sturgeon Capital’s website

Al Zayani’s website

Haitou Global website

LinkedIn profile of Peter Findley

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