PRESS RELEASE

On its tenth anniversary, Krank reflects on its evolution from a focused marketplace into a technology company building the operational infrastructure behind how heavy equipment is managed, inspected, and transacted across its lifecycle.Team Krank at its Karachi officeFounded in 2016 by CEO Mark Turner and co-founder and CTO Khurram Mumtaz, the company was born out of firsthand experience in the construction and industrial sectors, where fragmented workflows, manual processes, and disconnected systems routinely slowed down decision-making and asset movement.Over a pint, long-standing industry peers Turner and David McCarthy explored ideas for a business name, ultimately landing on “Krank”- a reference to a crankshaft, the component responsible for driving an engine, reflecting the company’s ambition to power movement within the industry. McCarthy later went on to join Krank full-time as Global Head of Sales, where he has played a key role in scaling the company’s commercial operations and driving enterprise adoption.From transactions to infrastructureKrank began by tackling inefficiencies in equipment transactions, launching auction and marketplace solutions designed to bring structure and transparency to a traditionally opaque process. Early traction validated the approach, with the platform facilitating millions of dollars in equipment sales across multiple markets.However, as adoption grew, a more fundamental issue became clear. The real friction was not limited to buying and selling; in reality It existed across the entire operational layer: inspections, asset data capture, field workflows, and reporting.As Mumtaz explains: “Early on, we were focused on transactions. Over time, it became clear the bigger opportunity was everything around them. How data is captured, how decisions are made, and how operations actually run day to day.”This realisation marked a turning point, repositioning Krank from a transaction platform into a broader operational layer designed to connect systems, workflows, and real-world execution.Built through iteration, close to the fieldOver the past decade, Krank has evolved through continuous iteration alongside its customers, supporting thousands of equipment listings and significant volumes of asset value across auctions and direct sales.Today, the platform is used by OEMs, dealers, rental companies, and fleet operators across multiple regions. Its infrastructure is designed to operate in complex, high-volume environments, integrating with existing enterprise systems rather than replacing them.Turner shares: “What’s mattered most is staying close to how the industry actually works. “A lot of what we’ve built has come directly from understanding the gaps in day-to-day operations and being willing to rethink things as we go.”Mark Turner, CEO of KrankA connected ecosystemThis evolution is reflected in Krank’s expanding product ecosystem. Its aggregated marketplace, Heavy Kit connects inventory across sellers into a single discovery layer. Alongside this, the Inspeq platform provides a structured, real-time operational layer for inspections and field workflows.Rather than acting as standalone tools, these systems are designed to work together, linking inspection data, asset condition, and transaction readiness into a unified flow. This approach enables businesses to move from fragmented processes toward more consistent, measurable operations, with greater visibility across teams and locations.Mark Turner, CEO and Khurram Mumtaz, Co-Founder and CTO, with Krank team membersThe next chapterAs Krank enters its second decade, the company continues to invest heavily in product development, with a full roadmap focused on expanding its operational intelligence layer, deepening integrations, and accelerating deployment across enterprise customers.With teams operating across the UK and Pakistan, and recent expansion into Australia following the appointment of John O'Sullivan, the business remains focused on rapid iteration, close customer collaboration, and building technology that reflects real-world operational demands.“What I’m most proud of is the team. They’re a group of people who take ownership and care deeply about what they build. Even after ten years, it still feels like we’re just getting started,” concluded Mumtaz.

UK-based tech innovator Krank is proud to represent British enterprise on the Department for Business and Trade’s Trade Mission to the UAE.Krank, the UK-based technology platform, is excited to announce its selection to join the UK Government’s Department for Business and Trade (DBT) Trade Mission to the United Arab Emirates, taking place from 23rd to 28th November.This year’s invitation-only mission is dedicated to advancing collaboration in infrastructure, clean energy, and advanced manufacturing, convening a select group of pioneering UK companies to explore strategic opportunities across the GCC region. Krank’s inclusion is a strong endorsement of its vision, innovation, and growing presence in one of the world’s most dynamic markets.Through innovative digital products such as its AI-powered inspection app, Inspeq, and Krank’s equipment marketplace solution, the company  is redefining how heavy equipment is inspected, marketed, and traded globally - bringing new levels of transparency, efficiency, and control to equipment owners and sellers.Five days of inspirational tradeThe DBT-led mission will visit Dubai, Abu Dhabi, and Ras Al Khaimah, offering participants access to high-level networking events, market briefings, and government-supported introductions. Highlights include VIP access to the Big 5 Global Construction Show, one of the world’s leading industry exhibitions, and curated meetings with regional partners, investors, and government officials.Krank’s participation builds on its growing engagement in the GCC, where it has already developed a strong network and pipeline of opportunities across Saudi Arabia, the UAE, and beyond. Just recently, Krank has delivered the Dayim Marketplace, a fully branded digital equipment trading platform developed in partnership with Dayim Equipment Rental, and launched in under a month - a testament to the team’s agility, innovation, and commitment to the region.“We’re incredibly grateful and proud to have been selected for this Trade Mission,” said David McCarthy, Head of Sales at Krank. “To be chosen from a competitive field of UK businesses is a real accolade. It’s a testament to the strength of our proposition and recognition of the value Krank is bringing to global construction and heavy equipment markets.“There’s an incredible energy in the Gulf right now. The pace of development, the openness to technology, and the genuine hospitality of the people make it a uniquely exciting place to do business. We’re passionate about contributing to that momentum and building long-term partnerships that deliver real value,” McCarthy continued.The team at Krank has also expressed its appreciation for the guidance of its DBT trade advisor and the UK Embassy team in Abu Dhabi, whose support has been instrumental in preparing for the mission. “We’re very grateful to the Department for Business and Trade for this opportunity. The level of support, insight, and access they provide is invaluable. For any UK business looking to expand overseas, I’d strongly encourage connecting with your local trade advisor,” added McCarthy.Krank will be sharing highlights from the trade mission via its website and LinkedIn page. Stay up to date with Krank’s journey as it connects with industry leaders, explores new partnerships, and strengthens its presence across the GCC region.

AI-powered tool boosts efficiency and accountability for the equipment rental industry.From tight schedules and high customer demands, to machines constantly moving in and out of yards, equipment rental companies face pressure every day. But many still rely on inspection processes that haven’t changed in decades.These old methods eat up time, create confusion, and can often cause delays. Handwritten forms get lost. Damage goes undocumented. Reports are inconsistent. Crucially, when equipment comes back in poor condition, there’s not always a clear record to hold anyone accountable. For equipment rental businesses managing hundreds of machines across multiple sites, these problems quickly add up, hurting profits and customer trust.Successful teams need smart processesUK tech company Krank understands the daily pressures equipment rental professionals are facing, and has used its deep understanding of the industry to enhance Inspeq, a mobile-first digital inspection platform built to eliminate the headaches of inconsistent and time-consuming rental equipment inspection processes.Since launching Inspeq in April 2025, Krank has continued to evolve the app into a powerful, intelligent tool that meets the real-world needs for equipment rental teams. Today, it offers a faster, smarter alternative to paper checklists and has been purpose built for teams working on the ground.“Equipment rental businesses are under constant pressure to deliver equipment quickly. That means minimising downtime and protecting high-value assets, often while dealing with unreliable inspections and frustrating ambiguity around damage,” explains Mark Turner, CEO at Krank. “We have developed Inspeq to bring total clarity to a process that can be messy and inconsistent and support rental fleet management.”With Inspeq, field teams can carry out check-in and check-out inspections using just a smartphone or tablet, capturing high-resolution video, detailed photos, voice notes, and even time-stamped condition reports, all within a few taps. What once required piles of paperwork and hours of back-and-forth can now be logged, stored, and shared with repair teams in minutes.Halve inspection time and generate reports instantlyInspecting a large mining truck traditionally takes even an experienced inspector 1.5 hours, and that’s before the lengthy reporting begins. Inspeq cuts inspection time by up to 50% and reduces hours of post-inspection reporting to just seconds. “As soon as the inspector completes their check, a fully formatted, shareable report is ready instantly, speeding up maintenance, reducing downtime, and keeping high-value equipment in action,” explains Khurram Mumtaz, CTO at Krank.At the core of the platform is an AI-powered technology that transcribes voice input into structured condition reports in real time. Instead of relying on memory or hand-written notes, inspectors can simply speak their observations while recording video, guided by intuitive on-screen prompts. The platform listens, interprets, and logs everything into a clean, shareable report, with the option to review and edit notes as needed.This capability alone is proving transformative for equipment rental businesses that operate on tight schedules and high volumes. “We’re still early in the rollout, but we’re already seeing inspection times cut by up to 50%, and the time savings after inspections are even more dramatic. Compiling detailed reports can take businesses hours but can now be completed instantly, directly through Inspeq. That means faster turnaround, quicker servicing, and fewer idle machines,” shares Turner.Ensure accountability and accuracy for rental equipment inspectionsOne of the biggest challenges in the rental industry is accountability, especially when equipment is returned damaged. Was it already there? Was it misuse or just wear and tear? Inspeq removes the guesswork and simplifies rental fleet management.With check-in and check-out discrepancy reports, complete with photos and AI-generated notes, equipment rental teams can quickly and fairly resolve disputes. Customers benefit too: instead of vague paperwork, they receive clear, time-stamped inspection records that build trust and reinforce professional service.“Equipment rental is evolving, and the businesses that succeed will be the ones who adopt smarter tools,” adds Mumtaz. “Inspeq provides users with a streamlined way of completing inspections, one that allows everyone to stay aligned even when teams are spread across multiple sites. By using AI to automate routine admin, we’re giving teams back valuable time and helping them to build more resilient, future ready operations.”Download Inspeq today to transform your rental equipment inspection workflow: Apple App Store: Download hereGoogle Play: Download here You can find out more about Inspeq here: https://krank.com/inspeq

Krank, the UK-based technology company behind the digital inspection platform Inspeq, has launched a powerful new check-in/check-out feature, purpose-built for equipment rental companies.This smart tool enables fast and accurate documentation of equipment condition before and after each rental, boosting operational efficiency and cutting inspection time by up to 50% compared to traditional manual paperwork. Inspeq helps rental teams ensure faster turnaround times and improved operational accuracy.Simplifying equipment returnsHandling returns can often be messy, especially when condition reports are inconsistent or incomplete. Inspeq’s smart check-in/check-out workflow changes that. Using just a smartphone, rental teams can quickly capture detailed inspection logs, record videos, add voice notes, and generate comprehensive condition reports all from the field. This means more transparency, fewer disputes, and better protection for both rental providers and customers.“With Inspeq’s check-in/check-out feature, rental companies can complete inspection reports in minutes, eliminating stress and reliance on memory or notes,” says Mark Turner, CEO of Krank.“Everything is documented, time-stamped, and accessible in real time through a single, streamlined process that fits in your pocket,” continues Turner.Designed for field use, the latest feature supports rental staff in inspecting equipment before dispatch and upon return, embedding visuals and notes into comprehensive reports that can be shared instantly with repair teams.By completing inspections in half the time of traditional methods, rental companies save time and money while boosting efficiency. Meanwhile, by comparing check-in and check-out reports, users can manually log any equipment damage, with the app then generating detailed discrepancy reports to simplify wear-and-tear inspections, ultimately reducing potential disputes and speeding up repair quotes.Improving rental accountabilityIn a fast-paced rental environment where precision matters, Inspeq’s new check-in/check-out feature delivers a reliable way to enhance transparency and build trust between rental providers and customers. Every inspection is securely logged, creating a clear, time-stamped record of equipment condition before and after every rental.“Inspeq helps rental businesses stay protected and gives customers real peace of mind,” Turner adds. “Having clear, visual records of every inspection makes it easier to keep everyone accountable. Protecting assets is just one benefit of this feature, it also helps teams plan better and get repairs done faster, which is crucial when you’re working in such a fast-moving industry.”Download Inspeq today on the Apple App Store and Google Play and transform your rental inspection workflow. Apple App Store: https://apps.apple.com/fi/app/inspeq/id6503616297Google Play: https://play.google.com/store/apps/details?id=com.krank.inspeq&pcampaignid=web_share

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/