NEWS

Liebherr, in collaboration with Krank technology, has announced the launch of its own hosted digital platform, the Used Equipment Marketplace, specifically tailored for selected product segments. This initiative is a first for a major global OEM and marks a significant advance in the disposal of used equipment, focusing on construction and material handling machines.One of the largest construction equipment manufacturers, Liebherr, has launched its own digital Used Equipment Marketplace. The new online platform is underpinned by Krank technology and provides a secure and user-friendly method to dispose of the thousands of used machines that Liebherr acquires as part of operations annually. Liebherr’s Used Equipment Marketplace is the latest example of Krank technology in action, demonstrating the platform’s robustness, scalability and ability to cater to businesses of all sizes with used equipment to dispose of.Daniel Hecker, Business Development Sales at Liebherr-EMtec GmbH, commented on selecting Krank as the development partner: “We were looking for an expert in creating marketplaces for used construction equipment – and Krank is the standout partner. With the launch of this marketplace, focused on our specific product segments, we provide a central platform for our global used equipment business. Customers are able to independently search our virtual marketplace for the used equipment they need, while our sales partners register and manage their listings via the platform and its associated apps.“The marketplace brings together on a single platform the entire supply and demand sides of our used equipment business,” Hecker continues. “It combines Liebherr’s strengths of personal advice and customer relationships with the much greater visibility a global digital marketplace offers.”Figure 1 Krank Founder Mark Turner (left) with Liebherr's Alexander Sattler, Head of Business Development Sales & ServiceA seamless digital experienceThe Krank platform has been tailored specifically to meet Liebherr’s precise needs, upgrading and replacing existing systems to enhance service delivery. Designed with the user in mind, Liebherr’s Used Equipment Marketplace provides a wide selection of the company’s pre-owned machinery, including wheel loaders, tracked and wheeled excavators, as well as attachments and spare parts from Liebherr’s sales and service partners. With its advanced search and filtering tools, users can easily find what they need. The platform supports global accessibility and promotes sustainability by extending the operational life of equipment, offering cost-effective, resource-conserving solutions.On-the-go accessThe marketplace is accessible through a website and will soon be available via a mobile application. This app will feature personalized watch lists, real-time notifications, and direct seller communication, simplifying the equipment purchasing process.By selling directly through its platform, Liebherr maintains complete control over profitability, and eliminates the need for intermediaries in the sale process. This approach preserves against margin erosion for Liebherr and offers buyers the assurance of purchasing at the best price directly from the owners of the equipment."Our collaboration with Liebherr, one of the world’s largest and most respected manufacturers, is reshaping how companies manage their equipment lifecycle," said Mark Turner, CEO of Krank. "Liebherr taking charge of selling its own used equipment shows how digital transformation is empowering companies to move away from traditional disposal routes. We are pleased to have our technology underpin Liebherr’s new digital marketplace."Liebherr’s Used Equipment Marketplace is accessible here.

Elebbre’s month-long Krank marketplace tech-powered auction saw a host of records broken, compared to traditional sales channels, including:Seven-fold increase in website traffic, with bidders from over 75 countries.47% of lots sold above their reserve.Double the sales success ratio compared to a traditional auction.Latin American remarketing experts Elebbre’s recent online auction of used mining and construction equipment on behalf of global construction giant Bechtel has been given an enthusiastic vote of approval. The month-long auction – the largest 100% online auction to date in Latin America – was powered by UK SaaS technology company Krank’s marketplace platform. Using the Krank platform allowed Elebbre to manage the entire auction and sale process itself, rather than relying on the support (and associated costs) of third-party auction houses.The auction generated total sales revenues of $2.8 million and drew bidders from over 75 countries. Of the 152 lots put up for sale – which included dump trucks, boom trucks, cranes and excavators – almost half (47%) were sold, roughly double the sales ratio of a traditional auction. Unlike with traditional auctions, even when Elebbre’s 30-day sale was over – that wasn’t the end of proceedings. The use of vital runner up data – information that Elebbre wouldn’t have access to if it had used a traditional auction house – allowed it to sell a further 24 machines. ‘The Krank platform exceeded expectations. The auction performance was excellent and helped to maximize the value of our used equipment.’“In the past we used traditional methods, including third party auctions and direct sales for disposals of this kind,” said Elebbre’s Co-Founder and General Manager, Moisés Nunez. “But for a range of reasons – including cost, lack of sale data provided by third party auctions and the carbon footprint of moving machines to auction sites, we decided to take a different approach.”Streamlined processes“For this sale we were attracted to Krank's reputation of providing cutting-edge and efficient platforms for equipment disposal,” Nunez continues. “We expected Krank's platform to enhance our selling process by providing a user-friendly interface, and it did attract a broader range of buyers. In fact, the Krank platform exceeded our expectations. The auction performance was excellent and helped to maximize the value of our used equipment.”Benefits for both buyer and sellerFeedback from bidders was overwhelmingly positive. The user-friendly interface and transparent processes on Elebbre’s Krank-powered platform were both cited as making it easier for bidders to participate in the auction. From Elebbre’s perspective, the buyer data it captured is proving to be valuable for understanding market trends and buyer behavior, information it can leverage in future equipment transactions.Cost savings ‘substantial’“With no auctioneer fees to absorb, the cost savings are substantial compared to traditional methods,” continues Nunez. “Krank's auction platform also eliminated the need and associated costs of transporting equipment to physical auction sites. This contributed to a significantly reduced carbon footprint compared to traditional auctions.”Valuable equipment disposal tool“Our overall impression of using the Krank marketplace platform to sell equipment has been overwhelmingly positive,” concluded Nunez. “Its effectiveness, user satisfaction and the financial benefits it offers make it an invaluable tool for our equipment disposal needs.”Elebbre is now preparing for its next auction which it will be launching in December and closing 14th December 2023 – please find more details here: https://www.elebbre.com/ 

Krank’s new downtown 3,700 sq.ft facility will be the engine house of development for the unique online marketplace.Rapidly expanding used equipment trading platform Krank has bolstered its Pakistan-based development team, opening a new technology centre at the heart of the country’s largest city, Karachi. Based in the newly built Fortune Tower commercial complex on Shahrah-e-Faisal, the quickly expanding team in Karachi has already grown to over 20 technologists, who together are crucial to the success in building, designing and running the platform’s complex tech stack. The team consist of Architects, Software Engineers, UI/UX Designers & Developers, QA Specialists, Mobile app Engineers and Project Managers.Krank is a SaaS platform that provides a new way to remarket used and new equipment, meaning customers can easily generate leads, sell more quickly, grow revenues and scale their businesses. With full control over sales data – plus Krank’s built-in analysis and forecasting – users generate actionable insights that can positively influence their buyer’s behaviour.With an abundance of talent, Pakistan is a growing hive of activity for technology development. The Karachi team works across multiple time zones, collaborating with colleagues and clients in Europe and the Americas.“Krank is a complex product and so the addition of a specialist office dedicated to the constant refinement and improvement of the platform will benefit customers as we expand our offering,” says Khurram Mumtaz, the company’s UK-based Chief Technology Officer. “The exciting city of Karachi is a hotspot for tech talent, and an ideal choice to base our technology centre.

Krank, a leading SaaS platform providing innovative solutions for the remarketing of used equipment for the likes of Liebherr and Maxim Cranes, has been awarded ISO 27001 certification. Recognized for being the gold standard of data security, the certification is a global acknowledgment of Krank’s  information security management system (ISMS).  Global technology giants, including Amazon, Google and Microsoft are all certified to ISO 27001, highlighting its elevated status and respect within the sector.  “Receiving ISO 27001 certification is a significant acknowledgment of our continuous efforts to provide secure and reliable services to our clients, customers and partners,” says Mark Turner, Founder and CEO of Krank. “This is another crucial step to growing the business, confirming that Krank is a diligent and responsible technology partner.” Information security ISO 27001 certification is a rigorous international standard that specifies the requirements for establishing, implementing, maintaining, and continually improving an information security management system within the context of the organization's overall business risks. It sets forth a risk management process, ensuring the confidentiality, integrity, and availability of information by applying a risk management process and providing assurance regarding the significant risks. Data security The process to achieving ISO 27001 is demanding, involving a meticulous process that requires organizations to demonstrate adherence to a set of detailed requirements, followed by a third party audit. It comprises of hundreds checks and controls, all aimed at safeguarding data security and integrity. The process is designed to vet and validate that the organization's information security protocols are not only in place and maintained, but are also effective and resilient against the changing landscape of cyber threats. Turner further commented: “Meeting the requirements of ISO 27001 is a substantial undertaking – Krank’s certification is a declaration of our commitment to the platform. It is a critical component in strengthening our services, positioning Krank as a dependable provider, prepared to exceed the expectations of the market’s major players.” 

Global engineering, procurement and construction giant Bechtel chooses Latin American equipment remarketing experts Elebbre to manage major auction of its equipment from mega mines’ expansion and desalination plant construction – all underpinned by the latest auction technology from Krank.“The expansion of the world’s largest copper mine in northern Chile has prompted a renewal of a proportion of the mobile fleet based there, resulting in a surplus of used construction equipment for the mines’ expansion operators. The task of managing the sale of equipment such as dump trucks, boom trucks and cranes for one of the world’s top five construction companies – Bechtel – has fallen to Latin American equipment experts Elebbre. Access to high intent buyersThe sale of the machines is to be by auction with Elebbre adopting the latest online marketplace platform from UK SaaS provider Krank. Using the Krank platform means that Elebbre can manage the entire auction and sale process itself, rather than having to rely on the support of third-party auction houses. The platform connects construction industry peers by providing an innovative solution for building networks and connections, via which new and used equipment can be remarketed. Its platform is being used by major equipment OEMs, rental companies and others with equipment fleets, and gives users access to a network of high-intent buyers, which helps to convert into sales faster, with reduced costs and improved revenues.“The Krank platform has been customized to our needs and provides a seamless trading experience for ourselves as sellers, and for our buyers. It will be a key component in achieving favorable market prices for these assets, maximizing transparency in the negotiation process and accurately valuing assets, via certified inspection methodologies and reporting,” says Elebbre’s Co-Founder and General Manager, Moisés Nunez.“Elebbre has a strong reputation for using the most innovative thinking for the commercialization of equipment in Latin America; combining technology with extensive experience in the mining, agriculture and transport sectors,” says Krank founder and CEO Mark Turner. “It’s therefore no surprise that such a globally respected mining support giant such as Bechtel has entrusted the sale of its equipment to Elebbre. Adding in our platform to this mix allows Elebbre to independently trade heavy equipment under its own brand, run its own timed and live video auctions and facilitate greater customer engagement.”