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Íñigo Juantegui is the co-founder and CEO of Ontruck, an on-demand logistics platform to connect businesses directly with road freight carriers. Its platform automates the matching of loads to a network of over 2,200 trucks in Spain and the U.K., and provides real-time GPS tracking of all shipments. OnTruck clients include large multinationals such as Procter & Gamble, and Decathlon, in addition to over 400 mid-sized companies in the U.K. and Spain.
Íñigo knew from a young age that he wanted to build new things. After graduating from CUNEF in Madrid, he joined PwC as a strategy consultant, a position that introduced him to management and business planning. There he met José del Barrio, and, after 2.5 years, the two decided to leave PwC to build La Nevera Roja, an online food delivery marketplace that they sold to Rocket Internet for $94M in 2015. After creating quite a buzz in the Spanish ecosystem, Iñigo took a personal break, got married, and had his first son. He later met Antonio Lu, who introduced him to the trucking industry and its many challenges. After a three month market analysis, Íñigo and Antonio launched OnTruck in January 2016 and brought on four other cofounders: Gonzalo Parejo Navas (COO), Samuel Fuentes (CTO), Javier Escribano (VP of Product), and Rika Christanto (CFO).
During Íñigo and Antonio’s market analysis, the inefficiencies within the trucking industry quickly became apparent. Because the average carrier in Europe is an owner-operator with a fleet of 3-5 trucks, the matching process is overly complicated. When a shipment is requested, brokers refer to paper lists of carriers to find a match and charge fluctuating commissions from 5-30%, depending on the ease of the match. Carriers lack a standardized way to field shipments requests or plan their daily routes, resulting in lost time and money. Iñigo set out to improve the lives of 100K+ carriers in Spain and bring the industry into the 21st century.
Rather than waiting on brokers to facilitate matching, which can take days during peak periods, OnTruck’s proprietary algorithm and dynamic pricing engine automatically matches shipments to available freight space in an average of 18 seconds. By linking multiple orders together, OnTruck creates the most efficient route for carriers and reduces ‘empty’ kilometers (empty or minimally utilized freights). Drivers can find shipments based on their location and route preferences, which increases convenience, daily earnings, and gas conservation. OnTruck’s dynamic pricing engine combines inputs such as distance, location, and volume to generate instant market-based prices. The company’s Shipping App provides shippers with 100% transparency into the location of each shipment by sending confirmation of assignment, loading, transit, unloading, and delivery. OnTruck also prepares digitized monthly invoices for carriers through its Carrier App to ensure carriers get paid quickly (15-day period versus the 90-day industry standard). Both shippers and carriers have access to dashboards that track operational metrics such as loading times, on-time deliveries, and most profitable routes.
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