GP Bullhound invests in haulage tech platform OnTruck
Madrid, 30 May 2018 – GP Bullhound announces its investment in Spanish haulage tech platform OnTruck, in a EUR25m Series B round led by Cathay Innovation, alongside existing investors Atomico, Idinvest Partners, Total Energy Ventures, Point 9 Capital and Samaipata Ventures.
The funds raised will go toward consolidating OnTruck’s market positions in Spain and the UK and expanding across Europe.
OnTruck CEO, Iñigo Juantegui, said: “This new round is a great signal from the market that we are on the right path towards becoming the leading road freight platform in Europe. We are excited to count GP Bulhound as a new investor and believe their global presence and full focus on tech will be strong assets for our expansion plans.”
Per Roman, Managing Partner of GP Bullhound, commented: “We are proud to invest in OnTruck and strongly believe in the ambitious vision of their founder to use technology to disrupt and automate the road freight sector, a market offering a huge potential.”
For enquiries, please contact Per Roman, Managing Partner of GP Bullhound, at firstname.lastname@example.org
OnTruck is building a more intelligent way for companies to transport road freight. For shippers, OnTruck offers guaranteed capacity through a network of verified drivers, real-time tracking of shipments, as well as industry-leading service with instant, transparent pricing. Carriers are able to view and accept the shipments they want through a mobile app, helping them keep their trucks full and earn more. To date, OnTruck has completed more than 57.000 loads, shipping palletised goods for manufacturers, distributors and freight forwarders via a rapidly growing base of more than 2.200 drivers. Headquartered in Madrid, OnTruck is backed by Atomico, Cathay Innovation, Idinvest Partners, Point Nine Capital, Samaipata Ventures, All Iron Ventures, Total Energy Ventures and GP Bullhound.
About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit www.gpbullhound.com, or follow on Twitter @GPBullhound.
About GP Bullhound Asset Management
GP Bullhound Asset Management is the firm’s independent investment arm. It currently manages four funds, investing in high-potential and fast growing technology businesses, from early stage to pre-IPO.