TruKKer Secures Up to $300M Cross-Border Securitisation Facility from ADCB
The MENA digital freight network closed an inaugural trade receivables securitisation facility of up to $300 million arranged and funded by Abu Dhabi Commercial Bank, one of the GCC's first multi-jurisdictional asset-backed deals for a technology startup.
TruKKer, the UAE-headquartered digital freight network, has secured an inaugural trade receivables securitisation facility of up to $300 million arranged and funded by Abu Dhabi Commercial Bank (ADCB). The facility, structured as a non-recourse securitisation using a murabaha structure harmonised across multiple legal jurisdictions, is backed by portfolios of trade receivables across the UAE, Saudi Arabia and Turkey.
ADCB acted as sole arranger and sole lender in the transaction, while HSBC served as facility security trustee and account bank. According to the company, the transaction represents one of the GCC's first multi-jurisdictional, asset-backed securitisations structured for a high-growth technology startup.
The capital is intended to support the expansion of TruKKer's digital freight network, carrier optimisation and continued regional growth. Founded in 2016 by Gaurav Biswas, TruKKer operates an AI-enabled digital freight marketplace connecting shippers with carrier networks across the Middle East and Central Asia.