A Delhi-based startup that provides an Uber-like service for trucks has partnered with SecureNow to provide in-transit insurance as part of the end-to-end logistics services it extends to the MSMEs and individuals on the Trucknetic platform.
This partnership comes when Trucknetic is experiencing rapid growth in its user base by the day, and it will only bolster the relationship and trust it holds with 1 lakh + users on the app.
SecureNow is India’s top insurance platform that covers the full range of commercial insurances and is the single window for all insurance matters for its clients, including claims. Both firms aim to increase coverage to over a million businesses within the next few years, and with this partnership, the goal seems easier to achieve than before.
“Trucknetic will provide us access to the logistics industry and help us to expand our reach among MSMEs. We are excited about this partnership, which will indeed help our proposition become stronger and recognized” Kapil Mehta, Cofounder said.
“Trucknetic is helping the commercial fleet owners to operate their business seamlessly and it will positively impact customers and beyond. Arham’s mission and leadership have impressed us from the very beginning and we’re excited to collaborate with the team to help unlock its full potential”, he added.
Trucknetic is solving the transportation woes of over 60 million MSMEs in India who get neglected by other logistics startups and then have to resort to brokers for the shipment of their goods at a high commission rate.
The Trucknetic platform consists of two applications, Trucknetic Carrier, for fleet owners & transporters, and Trucknetic Shipper, which caters to individuals, traders, MSMEs, and corporates. The startup has clocked revenue of ~ USD 3.5 million till Jun’22 from Dec’19 and has moved close to 100,000 metric tonnes of goods with a network of 200,000 fleet owners and 50,000 transporters which translates to over 1 million trucks in their network.
“SecureNow is India’s top insurance platform and this partnership only fortifies our commitment to providing the best full-stack logistics services to small businesses and individuals in the country,” says Arham Partap Jain, the founder, and CEO of Trucknetic.
MSMEs contribute close to 40% to the GDP and constitute about 60% of the workforce in India. With this strategic partnership, both the startups aim to play a crucial role in India’s booming MSME sector and support them on their journey.