OnTruck has raised £7.7m for freight delivery

OnTruckOnTruckThe OnTruck team

Spanish startup OnTruck has raised $US10 million (£7.7 million) in a Series A round led by Atomico and Idinvest for a freight delivery platform.

OnTruck is an on-demand platform that pairs businesses with freight carriers to ship their goods. The idea is to undercut intermediaries which, according to Atomico partner Carolina Brochado, charge 15% commission to match supply and demand.

The company will hire more engineers and product staff and expand into Europe beyond Madrid and Barcelona. OnTruck was founded in 2016 by former PwC consultant Inigo Juantegui and shipping veteran Antonio Lu Lee.

Existing backers Point Nine Capital, La Famiglia, and Samaipata Ventures also participated in the funding round.

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