Truck Lagbe

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  Founded in 2017, Truck Lagbe Inc. (TL or the “Company”) is a digital trucking platform that connects cargo owners with truckers. The platform is used to book short-haul and long-haul freight trips, using vehicles of different sizes, across all 64 districts of Bangladesh. The platform allows booking truck of various sizes from light to heavy-duty trucks. In addition, it allows booking prime movers / trailers to transport goods in large containers. TL caters to both business-to-consumer (B2C) and business-to-business (B2B) segments and charges its commissions on the trips that are bid out to fleet or truck owners with drivers registered on the platform. The company’s two main business lines are: (i) Spot Business: small and medium enterprises and individuals can place a request for trucks on TL’s platform via marketplace; (ii) Contract Business: larger enterprises can enter in a contract with TL to service their business, collating all freight needs and placing it on TL’s marketplace to match with relevant partners.  As of December 2020, TL had ~26,000 verified drivers and 49,000 trucks registered on its platform and ~3,200 active customers across Bangladesh. The TL app has two versions: one designed for truck owners and the other for shippers. The app for the truck or fleet owners allows trucks to be registered under the app and is provided with a Global Positioning System (GPS) system to help keeping track of trips. The company does not own any physical infrastructure such as warehouses or distribution centers or vehicles used for logistics operations.  TL is planning to raise Series A investment of US$5 million. IFC is proposing an equity investment of up to US$3 million by subscribing to Series A preferred shares. The proceeds of the investment will be used to fund growth through investment in product and technology, marketing and acquisition of new customers, and GPS tracking services (the “Project”).