TruKKer secures $300 million securitisation facility from ADCB

Published: 2026-05-15T09:57:20.000Z

TruKKer has closed a $300 million trade receivables securitization facility with ADCB as sole arranger marking one of the first multi-jurisdictional asset-backed deals ever completed for a GCC technology startup.

Digital freight platforms are not typically the companies that end up setting precedents in structured finance. TruKKer, founded in 2016 by Gaurav Biswas, has just changed that. The UAE-based digital freight network has closed an inaugural trade receivables securitisation facility of up to $300 million arranged and funded entirely by Abu Dhabi Commercial Bank, making it one of the first multi-jurisdictional, asset-backed securitisations ever completed for a high-growth technology startup in the GCC. The transaction is not just a capital event for TruKKer. It is a structural first for the region's credit markets and a signal that institutional banking is beginning to engage with digital platform businesses on terms that reflect the maturity those businesses have reached. The facility is backed by portfolios of trade receivables across TruKKer's operating geographies spanning the UAE, Saudi Arabia, and Turkey, and is structured as a non-recourse securitisation using a murabaha instrument that harmonizes legal and regulatory frameworks across all three jurisdictions simultaneously. ADCB acted as sole arranger and sole lender. HSBC played a supporting operational role as facility security trustee and account bank across the various jurisdictions to ensure collateral management remained robust throughout. White and Case LLP and Paul Hastings served as legal counsel, building the cross-border legal and regulatory architecture that made the transaction executable in the first place. Biswas was direct about what this transaction represents for TruKKer's capital strategy. Moving from traditional equity funding to structured, non-recourse securitisation requires an institutional-grade technology and financial backbone, and he credited ADCB's structuring capabilities and understanding of the company's operating model as central to making the facility work. The practical benefit is equally clear: access to working capital at benchmark pricing, which means TruKKer can finance its growth without further diluting its equity cap table or taking on recourse debt that would sit on its balance sheet as a liability against the company's assets. TruKKer operates as a real-time, AI-driven freight marketplace that matches cargo demand with available carrier capacity across fragmented logistics markets in the Middle East and Central Asia. The company has equity investors including the IFC, Mubadala, ADQ, Saudi Technology Ventures, and Investcorp, a roster that reflects the institutional credibility it has built over nearly a decade of operations. The $300 million facility now gives it the working capital infrastructure to expand its digital freight network footprint, optimize its carrier operations, and continue building what Biswas describes as the Uber of Trucks for the region. The transaction carries implications that go well beyond TruKKer itself. For years, the gap between traditional institutional banking and high-growth technology platforms in the MENA region has been structural and persistent. Banks have historically been reluctant to extend large-scale structured financing to asset-light technology companies whose primary assets are receivables, platform relationships, and proprietary algorithms rather than physical collateral. TruKKer's deal demonstrates that a sufficiently mature, data-rich digital platform with strong institutional equity backing can access the same structured debt instruments that traditional logistics companies use, and that ADCB has the appetite and structuring capability to lead such transactions as sole arranger and lender. For the wider MENA logistics and technology ecosystem, this is the template that others will reference. Saudi Arabia and the UAE are both investing heavily in logistics infrastructure as part of their economic diversification agendas, and the ability of digital freight platforms to access structured institutional capital at scale rather than relying indefinitely on equity rounds represents a meaningful maturation in how the regional financial system is prepared to support the digital economy.