Karachi: VIS Credit Rating Company Limited has assigned initial entity ratings to Trukkr Financial Services Limited, reflecting the company’s robust credit quality and promising financial outlook. The ratings assigned are ‘A-/A-2’, with a stable outlook, indicating a strong capacity for timely repayment of financial obligations.

According to VIS Credit Rating Company Limited, the medium to long-term rating of ‘A-‘ suggests that Trukkr Financial Services Limited possesses good credit quality with adequate protection factors, although risk factors may vary with potential economic changes. The short-term rating of ‘A-2’ highlights the company’s sound short-term liquidity factors and its good likelihood of meeting short-term obligations.

Trukkr Financial Services Limited, a subsidiary of Velocity Financial Technologies Inc., was established in Pakistan as an unlisted public limited company in early 2023 and quickly began operations under a license from the Securities and Exchange Commission of Pakistan. Originally a logistics platform connecting truckers with shippers, the company transitioned to a fintech business model in 2023, focusing on providing financial services to trucking companies by utilizing logistics data to underwrite loans.

The ratings also consider the expertise of the management team, which spans finance, logistics, private equity, fintech, and technology sectors both domestically and internationally. The company’s innovative use of advanced analytics and artificial intelligence in risk management and operational decision-making processes further underpins the positive rating. However, the ratings remain cautious due to the company’s limited operational history and depend on the achievement of its projected financial and operational plans.