VMPL
New Delhi [India], April 16: Gurugram-based FTL aggregator platform TrucksUp has partnered with Sundaram Finance, one of India's leading financiers, to offer a comprehensive range of financing solutions for truck owners. This collaboration will enable customers to avail loans for new trucks, used trucks, and refinancing options, all at competitive interest rates and flexible EMI structures.
Through this partnership, TrucksUp will support customers by streamlining the loan process, handling documentation, and ensuring hassle-free loan disbursement. This initiative is a significant step towards improving financial accessibility and reducing turnaround time (TAT) for truck buyers.
Sundaram Finance is expanding its support for TrucksUp customers beyond vehicle finance by offering fuel, insurance, and tyre financing. This all-round financial assistance helps ease working capital pressures, enhances cash flow, and reduces reliance on unorganised lenders who typically charge high interest rates--promoting more sustainable and cost-efficient operations.
TrucksHub: A Transparent Marketplace for Used Trucks
As part Trucksup's initiative, TrucksHub, the industry's premier marketplace for used trucks, offers a structured and transparent buying and selling experience in India's highly fragmented used truck market. Customers can request financing based on their budget and loan requirements, making the platform a one-stop destination for purchasing, selling, and exchanging trucks.
Commenting on the partnership, Mr. Sarthak Elwadhi, Co-founder, TrucksUp, stated: "Many truck users, especially first-time buyers and small operators, face hurdles when it comes to financing from limited documentation to lack of formal credit history. Our partnership with Sundaram Finance directly addresses this gap. We're making finance more accessible, less intimidating, and tailored to their needs. With simplified loan processes, flexible repayment options, and minimal paperwork, this will especially benefit small fleet operators, driver-owners, and first-time buyers who want to grow their business but are held back by financial barriers. Now, with simplified loan processes and flexible options, they can take control of their journey from being a 'chaalak' to becoming a 'maalik'."
A N Raju, Deputy Managing Director, Sundaram Finance, stated: We bring decades of trust and experience in vehicle financing, and TrucksUp brings smart, tech-driven solutions that make the whole process easier. Together, we're making it simpler for customers to buy new or used trucks, get quick approvals, and focus on growing their business without the usual hassles. It's all about making ownership more accessible and supporting the people who power India's logistics network.
Wahid Raza, Business Head - VAS, TrucksUp, stated that the collaboration with Sundaram Finance streamlines the financing process, making it faster and more accessible for truck owners. By integrating digital workflows and reducing documentation hassles, the partnership ensures quick loan approvals and seamless execution. This initiative empowers small fleet owners and first-time buyers with tailored financial solutions, enabling business growth.
The TrucksUp-Sundaram Finance collaboration aligns with TrucksUp's vision of transforming the trucking industry by helping drivers progress towards truck ownership, echoing the platform's philosophy of "Chaalak se Malik". With Sundaram Finance's financial expertise and TrucksUp's vast network, this partnership will empower truck owners, optimize operational efficiency, and enhance financial inclusion across India.
By integrating vehicle selection and financing on a single platform, TrucksUp simplifies the truck-buying journey, offering a seamless experience for customers seeking hassle-free loans and ownership solutions. With Sundaram Finance's extensive reach, this initiative ensures enhanced accessibility, helping truck owners scale their businesses with ease.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
