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Trella raises $42M Series A funding round

Trella raises $42M Series A funding round

ArabFinance: Egyptian startup Trella, a digital platform connecting truckers with freight loads, raised $42 million in a funding round, Reuters reported on June 21st.

The company will use the fund in its technology capacity and product development and to reduce the cost of moving goods.

The round was led by international investors including Danish shipping titan Maersk's venture capital arm.

The Series A funding round consists of $30 million in equity and $12 million in debt.

Maersk Growth and Saudi Arabian VC Raed Ventures together led the equity segment of the funding round, while the debt facilities were provided by Lendable and other local financial institutions.

"The MENAP [Middle East, North Africa and Pakistan] freight market is a significant one and urgently needs the transparency, reliability and efficiency that Trella and its technology platform provides," CEO and co-founder Omar Hagrass said.

Founded in 2019, Trella has operations across Egypt, Saudi Arabia and Pakistan. The company has more than 350 shippers on its mobile app, including Coca-Cola, Maersk, Mondi, Henkel, Orascom and Cemex, as well as more than 15,000 truckers.

 

 

 

 

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