Middle East trucking platform TruKKer has secured an AED 1.1 billion securitisation facility from Abu Dhabi Commercial Bank (ADCB), marking a landmark shift in how GCC technology startups access capital.
The cross-border, Sharia-compliant, asset-backed structure is described as a first of its kind for a tech startup in the Gulf, transitioning TruKKer from traditional equity funding into structured debt financing. Proceeds will support the company's regional expansion, including growth of its digital network footprint and optimisation of its carrier operations.
ADCB served as sole arranger and sole lender on the transaction, with HSBC acting as facility security trustee and account bank.
Gulf Economist Staff Writer