Cairo-based digital trucking marketplace Trella has completed a US$42 million Series A funding round, comprising US$30 million in equity and US$12 million in debt facilities, for major expansion in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP). Founded in 2018, Trella is a B2B technology platform and trucking marketplace connecting shippers with carriers in real-time, and has over 350 shipper partners including blue-chip brands such as Coca-Cola, Maersk, Mondi, Henkel, Orascom and Cemex. Since its launch it has been accepted into the Y Combinator accelerator, acquired a local competitor, and expanded into Saudi Arabia and Pakistan. It is now targeting much bigger growth in the MENAP region after securing US$42 million in a Series A round of equity and debt funding. The equity element was led by Maersk Growth – the corporate venture arm of global multinational A.P. Moller – Maersk – and Raed Ventures, a Saudi Arabian venture capital firm. Other participating investors include Algebra Ventures, Vision Ventures, Next Billion Ventures, Venture Souq, Foundation Ventures and Flexport. The debt facilities are being provided by Lendable – the next generation lending platform, and other local financial institutions.
SOURCE: DISRUPT AFRICA