- Egyptian digital freight marketer Trella has raised $42 million in a funding round that includes $30 million in new capital and $12 million in debt facilities.
- Companies such as Maersk Growth and Raed Ventures led the capital increase, along with Algebra Ventures, Vision Ventures, Next Billion Ventures, Venture Souq, Foundation Ventures and Flexport. Debt facilities are led by Lendable.
- The company, which was founded in 2018 by Omar Hejres, Ali Al-Atrash, Pierre Saad and Muhammad Al-Jarem, was able during this period to extend its services to three markets: Egypt, Saudi Arabia and Pakistan.
- Trila plans to use the new funding to expand across the Middle East, North Africa and Pakistan, boosting its growth and expanding its technology capabilities.
aTrella, the fastest growing digital freight market in the Middle East, North Africa and Pakistan region, has announced the successful completion of a $42 million financing round, comprising of $30 million equity capital raising and $12 million facility and loans.
The capital increase was led by Maersk Growth – the institutional investment arm of AP Moller – the global multinational Maersk, and Raed Ventures – a Saudi venture capital firm. Other participating investors include Algebra Ventures, Vision Ventures, Next Billion Ventures, Venture Souq, Foundation Ventures and Flexport. The loans were provided by Lendable – a technology lending platform – and facilities from other local financial institutions.
Trella is an online platform to reinvent trucking across emerging markets, with a current presence in three countries; Egypt – its main center – and Saudi Arabia and Pakistan.
The transportation market is significant in the MENAP region – its turnover is estimated at $50 billion. The Trella platform will use the proceeds to invest in its technology capabilities and product development to support growth and accelerate the company’s journey to reduce freight transportation costs and continue its leadership in the regional market.
Trella connects carrier shippers in a decentralized freight business. The company’s mission is to instantly connect the parties with a high degree of flexibility and efficiency, with the aim of developing entire supply chains to become faster and more reliable, while reducing stagnation and loss rates.
Trella enables shippers to book directly and access a more transparent pricing structure. Shippers can also track shipments in real time, and receive analytics on transportation performance, which helps reduce transportation costs. For truck drivers. The company works to provide profitable and sustainable job opportunities for truck drivers, while at the same time reducing costs incurred by shippers by improving loading efficiency, while enabling the customer to track shipments in real time.
Trella has more than 350 shipping partners including well-known brands such as: Coca-Cola, Maersk, Mondi, Henkel, Orascom and Cemex. It also has more than 15,000 carrier partners.
Trilla’s management team has extensive experience that enables them to expand the company’s reach across the MENAP region. Among its four founders are CEO Omar Hejres, who was previously part of Uber’s expansion team in EMEA, Ali Al-Atrash, COO and former regional head of Uber’s shared ride division in the Middle East and Africa region, along with Pierre Saad, Chief Technology Officer and former software engineer at Cairo startup Vezeeta, and Mohamed El-Garm, former business development manager at OLX.
Mr. Omar Hejres, CEO of Trela, said: “The $42 million funding round is a huge boost to Trela’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 see Maersk investing, as a shipper client Uses Trila, in our future growth.The freight forwarding market is an important market and urgently needs the transparency, reliability and efficiency that Trila and its technology platform provide.Trila has the trust and use of many of the world’s most recognized brands and we look forward to working with our partners to expand into the MENA region and Pakistan”.
Omar Almajdouie, Co-Founder of Raed, said: “Our firm belief in the founders as well as the burgeoning shipping sector made the opportunity to lead Trella’s investment round very exciting. The innovation of Trila’s products has enabled significant growth in the past year despite the challenging operating environment. This is evidence of a model Their resilient business and strong team. We are excited to support the team in their growth journey.”
While Jeep Hoyer, partner of Maersk stated: “We are currently witnessing a rapid development in the field of trucking, where the transportation of goods is becoming available to even the smallest companies due to new digital solutions. The Trila platform is an excellent example of democratizing the logistics sector. Trila is in the same Time is our first investment in the African continent, built by a team with extensive experience in the field of startups.”