OnTruck raises ¤25 million in funding

08/07/2020
Diego Gutiérrez
OnTruck raises ¤25 million in funding

The company OnTrucka transport technology platform, has raised €25 million in Series B funding, which will enable it to finance its expansion in Europe and consolidate its position in the UK and Spain. 

The round is led by global private equity fund Cathay Innovationa Venture Capital fund specialising in technology companies.

OnTruck, innovation and technology in the logistics sector

Founded in 2016, it is one of numerous start-ups trying to «digitise» the commodities market, which remains a fairly traditional and opaque sector today.

OnTruck describes its technology as the automation of matching loads with trucks and real-time GPS tracking of all shipments. The company's algorithms also try to dispatch work in a way that significantly reduces empty runs, which is a particularly common problem for the regional and short-haul market that OnTruck targets. «Regional transport is where shippers and truckers suffer the most inefficiency, with more than 40% of miles driven empty,» says OnTruck CEO Iñigo Juantegui.

OnTruck's customers include large multinationals such as Procter & Gamble and Decathlon, as well as more than 400 medium-sized companies in the UK and Spain.

The operation

The Series B financing round has enabled OnTruck to raise €25 million in funding. The transaction was led by the private equity fund Cathay International and also involved new investors, such as GP Bullhound, as well as existing shareholders Atomico, Idinvest Partners, All Iron Ventures, Total Energy Ventures, Point 9 Capital andSamaipata Ventures.

According to Juantegui, the new funding will be used to consolidate its market positions in these two countries, and to expand into more countries in Europe, such as France and Germany.

▶You may be interested in: ONTRUCK , TECHNOLOGY COMPANY IN THE LOGISTICS SECTOR RAISES €9.2M

Lastest news

The State of Technology M&A in Spain | October 2026 analysis

En octubre de 2026 hubo 37 operaciones de M&A tecnológico en España: 16 fueron adquisiciones corporativas, inversiones de private equity, fusiones o tomas de participación, y 21 fueron rondas de venture capital. El 62,2% de las operaciones (23 de 37) fueron...

Webinar | How much does your business depend on you?

IMPORTANT INFORMATION: Registration for and participation in the webinars are completely anonymous to third parties. If, for a month, you were unable to have a say in important decisions, what would happen in your company? Your company can grow, be profitable and have good...

Notable technology M&A deals in Spain | September 2026 Analysis

Technology M&A in Spain totalled 61 identified transactions by the end of September 2026, the highest figure in the monthly series we have been publishing since May. Of these, 41 were acquisitions, private equity investments, asset purchases, joint ventures or takeovers...

Baker Tilly advises Invelon on the acquisition of byAR

In September 2026, Invelon, a Spanish technology company specialising in virtual, augmented and mixed reality, completed the acquisition of a majority stake in byAR, a Portuguese company specialising in museum exhibitions and the development of spaces...

Do you want to sell or buy a company?

We are experts in M&A transactions in the technology sector.

Subscribe to our newsletter

    On which topic would you like to receive information?