ALP Seminar 2019
InsurTech

Ghanaian Insurtech Startup Trukrtech Wins TechCircle’s Pitch2Win Competition

Truckrtech

Truckrtech, an online marketplace for listing and booking of third-party trucks has won N1 million equity-free funding as the top startup from Pitch2Win, 2019 edition.

Pitch2Win is a competition launched by TechCircle, in partnership with Japan’s FreakOut Holdings, to find the most disruptive startups in Nigeria, and give them local and international investment opportunities.

Founded in 2018 by Caryl Joshua Akonor, Truckrtech gives real-time visibility, cargo-in-transit insurance and proper communication channels to shippers and drivers.

Call for application made early in May 2019 got over 200 entries across Africa. This was followed by a rigorous screening session then selection of 10 finalists, all culminating in the grand finale where selected startups will have to battle for N1 million equity-free funding.

The winning startup, TruckrTech fought its way through to beat other 9 impressive startups all aiming for the grand prize. Judges were impressed with its scalability potential to multiply their trucks and expand services beyond Ghana.

We did our pilot between January and April and started full operations in May 2019. Between May and June, we’ve done $12,000 in revenue. We can look to 15% month on month revenue increase with this funding from Pitch2Win

The panel of judges included Dr Ola Brown (FlyingDoctors & Greentree Capital Investments), Dr Femi Kuti (Reliance HMO), Yuzuru Honda (Freakout Holdings), Babara Iyayi, (Lateral Capital/Element Inc.) and Hiro Mashita (M&S partners).

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Pitch2Win runner-ups were Asusu, a SaaS startup digitising the financial activities of low income and daily earners, and Prodigy, a school management software based in Nigeria.

Oo Nwoye, Founder, TechCircle, says that all startups that pitched were exceptional. But beyond that, the opportunity it gave for all participants to tell their own stories and connect to a pool of investors was more than satisfactory.

“As I always say, Pitch2Win is more like a match-making event for young startups and investors. We had investors fly in from Japan, scouting for young emerging businesses to help scale and it’s amazing they got what they came for. I am particularly happy for the winning startup. The founder took a bold step to fly in from Ghana, and thankfully, his self-belief brought a positive outcome” said Oo Nwoye

The Pitch2Win competition by TechCircle is proudly sponsored by Japan’s Freakout Holdings and supported by RelianceHMO, PiggyVest, The Longe Practice, Ingressive, DOA Law, Impact Hub Lagos and Ventures Platform.

Pitch2Win by TechCircle first held in 2016 and will return even bigger and better than this edition.