
In a remarkable move to expand its footprint to the Pakistani fintech market, Yango Group, a UAE-based tech company, has made its first investment in Pakistan by acquiring a stake in Trukkr, a fintech platform digitising financial services for the logistics sector.
Yango's investment in the renowned Pakistani fintech firm was made through Yango Ventures.
The collaboration will enable Trukkr to expand its operations, enhance its credit-scoring tools, and improve access to financial services for thousands of trucking businesses operating in the country.
In addition to financial support, Yango will also provide Trukkr with product expertise and insights from over 30 global markets, allowing it to quickly scale and cement its foundations for growth.
Daniil Shuleyko, CEO of Yango Group, expressed enthusiasm for Pakistan’s logistics sector, anticipating that Trukkr will advance the industry by providing operators with essential financial tools.
Similarly, Trukkr CEO Sheryar Bawany emphasised that Yango's strategic investment and experience in logistics technology will widen the range of their offerings in Pakistan and beyond.
The move marks Yango’s entry into the Pakistani startup ecosystem, highlighting its commitment to fostering long-term digital growth.
It's worth adding that Yango Ventures is a $20 million corporate venture fund allocated to support budding and capable startups in MENAP, Sub-Saharan Africa, and Latin America.
Not only does this fund grant capital, but it also provides developing businesses with global expertise in several sectors, including fintech, so that they can scale efficiently.