Middle East trucking platform TruKKer has secured a securitisation facility for financing of up to $300 million from Abu Dhabi Commercial Bank (ADCB). 

Funds raised from the deal - a cross-border, Sharia-compliant asset-backed structure - will be used to finance the company’s expansion in the region.

TruKKer is looking to expand its digital network footprint and optimise its carrier network.

A first-of-its-kind for a technology startup in the GCC, the deal moves the company from traditional equity funding to structured debt, according to TruKKer founder and CEO Gaurav Biswas.

ADCB acted as the sole arranger and sole lender in the transaction, while HSBC acted as the facility security trustee and account bank.

(Writing by Cleofe Maceda; editing Seban Scaria) seban.scaria@lseg.com