Egypt’s Trella closes $42-million funding round

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    • AvatarEbigide Jude
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      Cairo-based Trella, the fastest growing digital freight marketplace in MENAP, announced the successful completion of a $42-million funding round this week. This round comprises $30-million new equity and $12-million debt facilities.

      The equity element of the round was brought to the table by Maersk Growth – the corporate venture arm of global multinational A.P. Moller. Maersk, and Raed Ventures, a Saudi Arabian Venture Capital firm partnered to lead the equity round. Other participating investors include Algebra Ventures, Vision Ventures, Next Billion Ventures, Venture Souq, Foundation Ventures and Flexport.

      Trella has reinvented trucking and logistics in Egypt, Saudi Arabia and Pakistan through its digital platform. The platform has disrupted and reshaped the freight industry by connecting shippers directly to carriers, with significant positives for both. The platform solves industry challenges including shippers suffering unreliability, inefficiency via fragmented truck ownership, high price points and low transparency.

      Shippers can book directly and access a transparent pricing structure. Shipments can be tracked in real-time, and receive analytics on transportation performance. Improved load utilisation also helps reduce cost. Trella improves efficiency for truckers as freight is moved intelligently, boosting carriers’ earnings and creates job opportunities.

      The MENAP Road Freight market is worth $50 billion. Proceeds will be used by Trella 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 its role as the regional market leader.

      Trella has over 350 shipper partners including blue-chip brands like Coca-Cola, Maersk, Mondi, Henkel, Orascom and Cemex. It also has over 15 000 carrier partners.

      Source: https://ventureburn.com

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