Founder of OnTruck talks disruption with Total
Iñigo Juantegui, founder of OnTruck, a freight delivery tech start-up, discussed with TOTAL about disrupting the transport sector, OnTruck and their collaboration with Total Energy Ventures.
OnTruck connects businesses with freight carriers to enhance transparency and help companies save on shipping rates.
The company is working with 500 carriers, operating mainly in Madrid and Barcelona on roughly 150 kilometers around both cities.They are now focusing on Valencia and launching their service in the United Kingdom over the coming months.
After some time in the consultancy sector, Iñigo launched an online food delivery marketplace, named La Nevera Roja, which he sold to Rocket Internet four years after its launch.
Following his success, Iñigo decided to start OnTruck in January 2016. The start-up's story started in October 2015 when Iñigo met Antonio, one of the co-founders of OnTruck, who convinced him that there was a marketplace to create in the haulage sector. After three months of market analysis, they concluded that this was a huge opportunity and went on creating OnTruck.
"OnTruck connects businesses with freight carriers to enhance transparency and help companies save on shipping rates."
Disruption is as a way of doing things differently, according to Iñigo. It enables one to improve a product, a service or a process to its best possible format, giving it a huge competitive advantage over competitors, even the larger ones. In fact, disruption is considerably more achievable by start-ups over big corporations, which have a lot to loose. Nonetheless Iñigo admires large companies, such as Amazon, with which OnTruck will soon be competing against in the trucking marketplace.
From the beginning of their journey, OnTruck has been looking not only for money to invest in their venture but "smart money", meaning that investors add money as well as value.
So far, OnTruck is supported by many successful European VCs and corporate funds. Moreover, with Total Energy Ventures, OnTruck receives insightful information, expertise and contacts from the trucking sector to boost growth and improve product development.