Singapore co invests in Truck Lagbe
Truck Lagbe, the leading online platform for hiring trucks in Bangladesh, has announced closing a financing round led by global port operator and supply chain provider PSA International.
Local investors Startup Bangladesh and IDLC Venture Capital Fund-I also participated in the funding round called "Series-A."
Truck Lagbe CEO Anayet Rashid told TBS that the undisclosed sum raised from this round would be utilised for scaling up its operations and expanding its reach across the country alongside making goods transportation simpler and convenient.
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This partnership is a testament to the incredible potential and market value that Truck Lagbe brings to the logistics industry, he said, adding, "With Global PSA's support we are poised to further revolutionise the trucking sector, enabling efficient, reliable, and technologically advanced solutions for businesses and individuals alike."
More products and services would help the company reduce empty truck movement that would lead to cost control and saving the environment.
Truck Lagbe in 2021 secured a $4 million "Series A" financing round co-led by the International Finance Corporation (IFC) and IDLC Venture Capital Fund-I.
Founded in 2017, Truck Lagbe has been connecting truck owners or drivers and a wide range of shippers leading to an efficient and convenient truck hiring service.
More than 80,000 trucks were registered with the platform, according to Rashid.
PSA International is a global player in port operations and supply chain with presence in 160 locations of 42 countries.
