truQ, Nigeria’s logistics-fintech company, has emerged as the winner of the Fintech for Financial Inclusion Category at the prestigious FINCA Competition Grant, beating over 300 competitors in a global judging and pitching process.
In a statement, the company secured a $100,000 grant, which will be used to expand its finance offerings tailored to small-scale transporters. This funding aims to deepen access to affordable credit and financial tools that can help micro-transporters and small logistics businesses scale operations.
“This grant is a timely validation of our vision to empower small-scale transporters with the financial support they need to thrive,” said Foluso Ojo, founder and CEO of truQ. “We are deeply honoured to be recognised by FINCA, and this grant will enable us to scale our impact and product offerings across the board.”
truQ has positioned itself at the intersection of logistics and financial technology, digitising logistics operations while unlocking financing for drivers and transporters who are typically excluded from traditional credit systems. Its solutions help transporters increase earnings, reduce downtime, and operate more sustainably, addressing key pain points in Nigeria’s highly fragmented logistics sector.
Other winners at the competition include Cladfy (Kenya), which secured second place with a $60,000 grant, and 10mg (Nigeria), which took third place with a $40,000 grant.
“The FINCA Competition Grant, an initiative of FINCA Ventures, supports high-impact businesses with the potential to deliver significant social and economic outcomes in underserved markets. truQ’s victory underscores its growing leadership in bridging the financial inclusion gap in Nigeria’s transport ecosystem, where thousands of small-scale transporters struggle with limited financing options,” the statement reads.
