Egypt-based Trella, a leading digital freight marketplace, has raised US$ 42 million in a Series A round led by Maersk Growth on 21 June 2021. The round includes US$ 30 million in equity investment and US$ 12 million in debt financing.
Investors: The equity round was headed by Maersk Growth, the corporate venture branch of Maersk, and Raed Ventures. The round also witnessed participation from Algebra Ventures, Vision Ventures, Next Billion Ventures, VentureSouq, Foundation Ventures, and Flexport. On the other hand, Lendable offered debt financing apart from other financial institutions.
Purpose of the funding: The new funds would be utilized to expand in the Gulf Arab region and in East and West Africa. In addition, the proceeds will be used to invest in tech capacity and product development to fuel growth, accelerate the company’s journey to reducing the costs of moving goods and continue being the regional market leader.
About Trella
Started in Cairo in 2018 by Ali El Atrash, Omar Hagrass, Pierre Saad and Muhammad El Garem, Trella is a technology firm that seeks to lift conventional truck brokerages and conducts business in Egypt, Saudi Arabia, and Pakistan. The startup links shippers to carriers while assisting in solving problems encountered by them. The firm caters to shippers by serving as a genuine option with reasonable and cost-effective pricing to transport their goods and track their consignments. As far as the carriers (or truck drivers) are concerned, the platform enables them to enhance their load utilization and efficiency. More than 350 shippers and 15,000 independent truck drivers are registered on Trella’s app.
What the CEO has to say: “The proceeding from the new funding round is vital evidence of Trella’s potential and business model. A powerful and diverse pool of investors has invested in our company, and we are grateful for their faith in us. In addition, we are proud to have Maersk, a leading shipping company, to lead the funding round.”- Omar Hagrass, the CEO of Trella.
What the Investors have to say: “Speedy development in trucking is visible, as transportation of goods is available to the smallest companies due to innovative digital solutions. A good specimen of democratization of the transport sector is Trella.”- Jeppe Hoier, Partner at Maersk Growth. “Despite a competitive environment, Trella’s product innovation has allowed them to expand and diversify in the past year. This is evidence of their strong business model and proficient staff. We look forward to supporting the Trella team.”- Omar Almajdouie, Founding Partner of Raed Ventures.
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