TruckPad from Brazil wraps up undisclosed funding round with Chinese Manbang Group

TruckPad from Brazil wraps up undisclosed funding round with Chinese Manbang Group
TruckPad from Brazil wraps up undisclosed funding round with Chinese Manbang Group

Contxto – Trucking companies stick together, at least that’s how it appears with TruckPad and its partnership with the Manbang Group from China. Known as the “Uber of trucking,” the Asian unicorn recently made an undisclosed investment in the Brazilian platform that matches businesses with qualified drivers.

“TruckPad and its founding team have rich logistics experience, innovative ideas, and deep local insights,” said Manbang Group CEO, Zhang Hui. “This will lead the platform to achieve greater development, and promote the logistics technology in Brazil and throughout Latin America.”

“In addition, internationalization is an extremely important part of the development of the company. We will continue to focus on fast and emerging development markets, continue to invest in technology-enabled logistics innovation projects, and promote the transformation of the global logistics industry.”

Following years of development, Manbang is reportedly valued at US$6.5 billion. Combining data analysis and smart cargo matching, it runs in 339 Chinese cities. Due to its massive scale, the company reportedly has 7 million certified drivers and 2.5 million cargo owners. Based on this news, the company also began its internationalization in Brazil.

Truck hailing app

Beginning in 2013, TruckPad provides a digital freight marketplace for both companies and freelance truck drivers. Over the app with more than 1 million downloads, affiliates can hire drivers to deliver cargo at a moment’s notice. 

In June, the transportation and logistics company announced a hiring spree of 80 new roles at its São Paulo headquarters. Areas spanned from technology, human resources, operations, marketing, sales, to customer service.

TruckPad for businesses and drivers

Finding, hiring, managing. When it comes to business needs, TruckPad has an all-encompassing platform to recruit self-employed drivers. Benefits range from reduced shipping costs and time, route optimization, in addition to safety, reliability, plus efficiency. 

For freelance contractors over the digital cargo marketplace, the TruckPad platform functions similar to Uber. Certain advantages include effective payment arrangement, verified loads, a rating system, news updates, among other perks. In the end, both companies and workers mutually benefit. 

“Like Uber, our proposal is to give the road entrepreneur an inexpensive and efficient way to get his next freight, as well as provide companies with a technological tool to hire,” said CEO and founder, Carlos Mira.

-JA

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