Truck Lagbe, an online platform that connects truck owners/drivers and shippers for free, has raised around US$1 million in a pre-series A investment round, according to two people familiar with the matter. It had previously raised an undisclosed seed round about three months ago. With the investment, the startup aims to grow its platform, acquire more trucks/owners, launch new products, and overall grow its business.
Started in 2017, Truck Lagbe calls itself “Truck Lagbe Network because we work as an aggregator platform where the drivers/owners and shippers can connect and do business swiftly”. That’s Anayet Rashid, Founder, and CEO, Truck Lagbe in an interview with Future Startup in August 2018. The company has evolved since. In October 2018, it opened up its platform, which was closed earlier, for anyone to enlist truck and made the platform free for both drivers and shippers. Previously, it used to charge a commission. The way the Truck Lagbe works now is simple: if you need a truck, you go and create a post asking for a quotation from truck owners and then truck owners bid for the deal and at the end of the day, you choose the one you find suitable for you.
Truck Lagbe considers itself as an aggregator. For Truck Lagbe, truck owners, drivers, truck-related utility sellers, shippers and everyone else in the universe of truck-transportation are its potential customers. The core stake of getting there is owning the interaction with truck owners and drivers and shippers. Once this nod is done, the rest is bound to follow. And the real business of Truck Lagbe begins when they are done with this phase of their development. With the new investment, Truck Lagbe will certainly push forward building the foundation of its platform, which is acquiring more drivers and shippers. The rest depends on how well Truck Lagbe executes.
Go deeper: Read out extensive coverage on Truck Lagbe including an interview with Truck Lagbe founder here.