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truQ
Techstars '22Lagos, NG · 16 employees on LinkedIn · 4 known investors
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truQ provides tools for commercial logistics fleet operators and drivers to log trips, receive faster payment, access financing, and get discounts on operational expenses. It also offers logistics-as-a-service infrastructure connecting vehicles, insurance, and third-party logistics operations for businesses.
Also known as TruQ · TRUQ TECHNOLOGIES INC.
Founders & leadership
Investors · 4
How we know: Ajim Capital's portfolio page · funding news · Not right? Tell us
How we know: Expert DOJO's portfolio page · funding news · Not right? Tell us
How we know: the Techstars portfolio · funding news · open dataset · Top 3000 Accelerator Startups (no YC) 2026-08 · Not right? Tell us
Company profile
researched Sep 2026truQ is a Lagos-based logistics and financial technology company operating an on-demand platform that connects individuals and businesses that need to move goods with the closest available third-party vehicle. Users can select vehicle types ranging from minivans (Sienna), small, medium and large vans, to 5-, 10- and 15-ton trucks, and the platform provides real-time tracking of trips.
The company's activity spans two sides of the market. On the supply side, a driver-and-partner mobile application lets vehicle owners and drivers register, receive trip requests, navigate, view earnings and collect weekly payouts. On the demand side, truQ serves businesses and stores that depend on it for their logistics needs, and describes its focus as mid-mile logistics across Africa delivered through third-party vehicle connectivity. Associated capability areas include fleet management, last-mile delivery, trip management, digital freight, supply chain software and invoice factoring.
Founding story
The company was founded in February 2020 by Williams Fatayo, Foluso Ojo and Isaac Chikutukutu after the founders experienced difficulties moving large items such as furniture and electronics in Lagos. Co-founder Foluso Ojo cited users' inability to reach drivers and drivers' inability to reach customers who needed them, alongside irregular and high pricing and unreliable systems, as the problems the company set out to address.
Business model
truQ operates a B2B-oriented logistics platform that connects demand for moving goods with third-party vehicles and their drivers. Vehicle owners and drivers join through a dedicated driver/partner app or the company website to receive trip requests, with weekly payouts and bonus incentives described as part of the driver proposition. The company also positions itself as logistics infrastructure for businesses, connecting vehicles, insurance and third-party logistics operations.
Reported revenue mechanisms include marketplace commission, data-as-a-service and services and consulting, alongside logistics-related financial products such as invoice factoring.
Traction
By December 2020, about ten months after launch, truQ reported more than 70 drivers on its platform and over 300 completed trips, with stores relying on it for logistics. Headcount grew from 18 to 21 employees in the quarter reported in May 2024 and from 19 to 24 in the quarter reported in June 2024, with a firmographic employee figure of 17 also listed. The driver and partner Android app has surpassed 1,000 downloads.
Latest developments
The most recent funding entry reported for the company is a grant dated 23 September 2025, with cumulative funding reported at $570,000. The truQ Driver & Partner Android app was last updated in February 2026 and has recorded more than 1,000 downloads.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
truQ is one of several African digital logistics platforms; companies identified as comparable include Kobo360, Kwik Delivery and Haul247 Innovative Technologies. Within the Google for Startups Black Founders Fund 2023 cohort it was grouped with other African logistics ventures such as Fez Delivery, Ridelink and Chargel.
truQ's approach centres on aggregating third-party vehicles rather than owning a fleet, connecting demand to the nearest available vehicle across a range of vehicle sizes with real-time tracking, and combining logistics operations with financial services elements such as fast driver payouts and invoice factoring.
Technology
truQ runs a mobile and web platform that matches move requests to the nearest available vehicle within minutes and offers real-time trip tracking. A separate Android driver and partner application handles registration, navigation, trip requests, earnings information and payout tracking; it states that data is encrypted in transit and that users can request data deletion.
Go-to-market
The company recruits drivers and vehicle partners through its driver/partner mobile app and website sign-up flow, marketing flexible working hours, access to more clients and weekly payouts. Customers are acquired on the demand side among individuals relocating or moving goods and among stores and businesses that outsource their logistics needs to the platform.
Individuals moving heavy or bulky items such as furniture and electronics, stores and businesses that outsource logistics, and on the supply side commercial vehicle owners and drivers seeking additional trips and earnings.
Geography
truQ is headquartered in Lagos, Nigeria, where it launched, and describes its focus as mid-mile logistics across Africa. Its app developer entity, TRUQ TECHNOLOGIES INC., lists an address in Lewes, Delaware, United States.
History
truQ was founded in February 2020 in Lagos by Williams Fatayo, Foluso Ojo and Isaac Chikutukutu and launched its on-demand platform in the same month. It was bootstrapped until October 2020, when it received US$50,000 from the Growth Lab accelerator run by V8 Capital Partners. By December 2020 it reported more than 70 drivers on the platform and over 300 completed trips. In June 2023 it was selected for the third cohort of the Google for Startups Black Founders Fund. Investors associated with the company include Techstars, Finca Ventures, V8 Capital Partners, Expert Dojo and Ajim Capital, with total funding reported at $570,000 as of September 2025.
Compiled by commissioned research from 7 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Related companies · 1
Companies working in the same space as truQ.
Timeline · 3
launches, deals, and filingsTruQ was among 25 African startups chosen for the third cohort of the Google for Startups Black Founders Fund, which offered non-dilutive cash awards of up to $150,000, $200,000 in Google Cloud credits, Google Ads support and mentoring.
After bootstrapping since its February 2020 launch, truQ received US$50,000 in funding from the Growth Lab accelerator run by V8 Capital Partners.
$50K source ↗
truQ launched its on-demand platform in Lagos in February 2020, connecting users needing to move items with the closest available vehicle and providing real-time tracking.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 7
primary sources listed
- Herconomy, TruQ & Excel At Uni Among 25 African Startups Selected by Google for Startups Black Founders Fund 2023 | BellaNaijabellanaija.com · web
7 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does truQ do?
- Lagos-based logistics platform connecting individuals and businesses to third-party vehicles for moving goods across Africa.
- Who founded truQ?
- truQ was founded by Foluso Ojo.
- Who are truQ's investors?
- truQ's investors include Ajim Capital, Expert DOJO, Techstars, V8 Capital Partners.
- Where is truQ headquartered?
- truQ is headquartered in Lagos, NG.