Tech in Africa
Trella, the Cairo-based trucking marketplace has raised $42 million in Serie A in equity and debt. The round comprises $30 million equity and $12 million in debt financing. Maersk Growth led the equity round while other participants are Raed Ventures, Vision Ventures, Algebra Ventures, VentureSouq, Next Billion Ventures, Flexport, and Foundation Ventures, who also took part in the deal. In the deal, debt financing was provided by Lendable and several other financial institutions.
Trella began its Egyptian operations in 2019 and currently has a presence in Saudi Arabia, Egypt, and Pakistan. Its regional market of operation is valued at $50 billion and connects shippers to carriers while helping them solve challenges faced by all parties. AmongTrello’s top shipping partners are Coca-Cola, Orascom, Mondi, Cemex, and Maersk who form part of its 350 plus shipping partners.
Omar Hagrass, CEO of Trella described the $42 million fund as an “endorsement of Trella’s capabilities, business model and market opportunity.”
Jeppe Hoier, Partner at Maersk Growth described Trella’s platform as a “democratization of the logistics sector” as the rapid development in trucking means goods remain accessible to the smallest of companies.
#Trella – Trucking Reinvented! #Egypt #SaudiArabia #startup #tech #app #Trucking #logistics #techsolutions #MENA pic.twitter.com/xXvFc0fOAG
— trella.app (@AppTrella) June 10, 2020
Source: Wamda
