OnTruck, a Madrid, Spain-based haulage tech platform, raised €25m in Series B funding.
The round was led by Cathay Innovation, with participation from existing investors GP Bullhound, Atomico, Idinvest Partners, Total Energy Ventures, Point 9 Capital and Samaipata Ventures.
The company intends to use the funds to consolidate its market position in Spain and the UK and expand across Europe.
Led by CEO Iñigo Juantegui, OnTruck is building a platform for companies to transport road freight. For shippers, it offers guaranteed capacity through a network of verified drivers, real-time tracking of shipments, as well as service with instant, transparent pricing. Carriers are able to view and accept the shipments they want through a mobile app.
To date, OnTruck has completed more than 57.000 loads, shipping palletised goods for manufacturers, distributors and freight forwarders via a base of more than 2.200 drivers.