2019 has proven to be yet another significant year for digital road freight platform Ontruck. The startup will celebrate it’s fourth birthday in January having successfully consolidated its presence across the European transport ecosystem to become a leading service Alprovider in the supply chain. The client portfolio now includes major companies such as P&G, Pepsico, CHEP, Auchan and Decathlon to name a few. The company is set to close 2019 with a turnover of over €22.5 million euros, a growth of 250% in net revenue over 2018.
This increase in turnover comes from the significant growth in its fleet, an additional 80% of active vehicles in its network will now place Ontruck steadily on track to tripling revenues for 2020. This growing network has been the result of the innovative technologies Ontruck are offering to optimise the road freight ecosystem. This innovation was recognised last month when the company took home the award for Digital Transformation at the Global Freight Awards.
2019 has also seen the startup achieve two major milestones in international expansion. In January it entered into the French market opening offices in Paris, followed by the Netherlands in September where it strategically launched operations in Amsterdam, home to the 4th largest Port in Europe and a central hub for freight transportation. Ontruck is now present in four European countries, Spain, the United Kingdom, France and the Netherlands, swiftly overcoming the challenges often faced during multimarket launches with growth accelerating in every new city it sets up operations.
Naturally, this rapid strategy of expansion has been accompanied by a substantial increase in workforce. Ontruck now has over 170 employees, a 15% increase since last year and a commitment to capturing strategic talent across the fields of technology, innovation and logistics. Executive hires in 2019 have come from Uber, Just Eat and CH Robinson to name a few.
“Our goal has always been to create a sustainable and scalable startup model, and following the success of our business in Spain and the United Kingdom, we are proud to see a proven strategy that has worked in both France and the Netherlands. This will empower us to continue our sustained growth. In 2020 we will further this international expansion with strategic launches in new markets, fully opening up our interconnections across Europe,”
says Iñigo Juantegui, CEO and co-founder of Ontruck.
Another major achievement this year has been the acquisition of Briver, a subsidiary company of the Wtransnet group, a move that will strengthen Ontruck’s leadership position in Catalonia. This collaboration will increase Ontruck’s fleet capacity by 20% and generate a 15% growth in the company’s turnover.
In just three short years, Ontruck has achieved a major feat. In a culture of volatile valuations and startup turnover, they have created a sustainable business model that has not only managed to generate net income, but allows for healthy, sustained growth across multiple markets.
Outlook for 2020: expansion and diversification
For the coming year, Ontruck will focus efforts on increasing service coverage into new markets throughout Europe. This will not only open up strategic interconnections for international transport but will also pave the way for market density across the European supply chain ecosystem.
This multimarket strategy, together with current market operations have put Ontruck on the path to tripling net revenue secured this year during 2020.