TechInAfrica – The Cairo-based Trella, a digital trucking marketplace has closed $42m in Series A funding for expansion in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP).
Maersk Growth, Raed Ventures, Algebra Ventures, Vision Ventures, Next Billion Ventures, Venture Souq, Foundation Ventures, and Flexport participated led the equity with a value of $30m, and Lendable support the debt facilities, with the value of $12m.
So far, Trella has partnered with Coca-cola, Maersk, Mondi, and 350 others, as well as having over 15,000 carrier partners, and has expanded to Egypt, KSA, and Pakistan.
Jeppe Hoier, Partner at Maersk Growth commented on the investment, “We are currently experiencing a rapid development in trucking, as transportation of goods has become accessible to even the smallest companies due to new digital solutions. Trella’s platform is an excellent example of this democratization of the logistics sector. Trella is at the same time our first investment on the African continent founded by a team with significant experience from the start-up scene.”
“This $42 million funding round is a huge endorsement of Trella’s capabilities, business model, and market opportunity. We have a strong diversity of investors and we thank all participants for their support. It is great to have Maersk, as a shipper customer that uses Trella, invested in our future growth,” Omar Hagrass, Chief Executive Officer of Trella, said.
“ The MENAP freight market is a significant one and urgently needs the transparency, reliability, and efficiency that Trella and its technology platform provider. We are trusted and used by some of the world’s most recognizable brands, and look forward to working with our partners to scale across MENAP.”