ESIP Blackbuck (IFC-39420)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 28, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
ZINKA LOGISTICS SOLUTIONS PRIVATE LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 15, 2018

Disclosed by Bank Jan 18, 2017


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

This project finances Zinka Logistics Pvt. Ltd. in continuing to growth contacts, spot business and spot build-up of ancillary services platforms. This company produces a mobile app interface for long-haul trucking. 

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Zinka Logistics Solutions Private Limited (“Blackbuck” or the “Company”), based in Bangalore, India, was established in 2015, and is a technology company focused on B2B logistics solutions for long-haul trucking.  Blackbuck’s nationwide technology platform brings together shippers and truckers through its online marketplace to book freight for inter-city transportation.  The Company is asset-light, and by matching truckers with shippers through its online platform, it is able to minimize downtime for trucks and maximize utility of the asset for the truck owner/operator.  The Company is focused on leveraging technology as it scales rapidly and continues helping companies transport freight nationwide. The proposed investment (“Project”) consists of up to US$10 million in equity for a minority stake to support the expansion of the Company’s service offerings and further technology development. 

Contact Information

Zinka Logistics Pvt. Ltd. 
Mr. Dhaval Chudasama 

+91 8375029336 
Dhaval@blackbuck.com 
The Address, 6th Floor, 17/1, Outer Ring Road, Kadubeesanahalli, Bengaluru, Karnataka 560103 
https://www.blackbuck.com/ 

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/