Cathay Innovation leads €25m series-B for OnTruck

Existing investors Atomico, Idinvest Partners, All Iron Ventures, Total Energy Ventures, Point Nine Capital and Samaipata Ventures also took part in the round, alongside newcomer GP Bullhound.

The company will use the fresh capital to consolidate its position in Spain and the UK, and bolster its expansion across Europe, starting with France.

Previous funding
OnTruck was backed by Samaipata, Point Nine and Local Globe, which invested €2m in the business, in October 2016.

Company
Founded in June 2016, OnTruck is an online marketplace that connects SMEs with freight companies offering delivery and transport services, a network of drivers and real-time tracking of shipments. The company's clients include large multinationals such as Procter & Gamble and Decathlon, as well as 400 mid-sized companies based in Spain and the UK. OnTruck is headquartered in Madrid and has an office in London.

People
Cathay Innovation – Jacky Abitbol (partner).
Atomico – Carolina Brochado (partner).
OnTruck – Iñigo Juantegui (CEO).

Advisers
Company – SR Legal (legal).

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