PSA International Leads Series A+ Financing Round of Bangladesh’s Truck Booking Logistics Platform Truck Lagbe

PSA International led the Series A+ financing round investment into Truck Lagbe – one of Bangladesh’s largest truck booking logistics platforms. Startup Bangladesh Limited and IDLC Venture Capital Fund I also participated in this financing round.

Truck Lagbe is a truck booking logistics platform that connects truck owners/drivers with consumers to efficiently provide their desired on-demand trucking needs. Many corporates and small and medium-sized enterprises (SMEs) in Bangladesh rely on Truck Lagbe’s services to ensure smooth operations of their supply chain. Its comprehensive trucking solution has helped many of these businesses to reduce their logistical expenses by up to 17%.

The funding will help Truck Lagbe to continue to scale its platform and expand its reach, helping more businesses and consumers to benefit from its unique transportation solutions and to fulfill its goal of making the transportation of light to heavy goods by trucks simpler and more convenient for everyone.

“PSA is excited to lead the investment for this Series A+ round in Truck Lagbe. The platform’s ability to enable greater efficiency and sustainability in the transportation of goods around Bangladesh is complementary to PSA’s focus on enhancing logistics and supply chain ecosystems for sustainable trade. Truck Lagbe offers the ability to simplify the matching of trucking demand and supply, thereby reducing empty trips and the resultant emissions. We believe the platform will be able to expand its offerings and uncover new synergies with other players in the ports, logistics and supply chain sector,” said Mike Formoso, Regional Head of Partnerships & Sustainability Solutions for Middle East South Asia, PSA International.

“Bangladesh is an emerging market with limitless potential and PSA is proud to be alongside in the country’s development. As we continue to work with the Bangladesh government to develop the transformational Bay Terminal project, PSA is concurrently exploring other logistics and supply chain opportunities: this investment into Truck Lagbe forms part of our integrated approach towards enhancing Bangladesh’s logistics ecosystem,” Mike added.

Read more about Truck Lagbe HERE.