Egypt-based Trella, a leading digital freight marketplace in MENAP, has announced the successful completion of a $42 million funding round, comprising $30 million new equity and $12 million debt facilities.

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.

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 being the regional market leader.

Trella is a technology platform ‘reinventing trucking’ across emerging markets, and has a current market presence in three countries; its home market - Egypt, Saudi Arabia and Pakistan.

Omar Hagrass, Chief Executive Officer of Trella, said: “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.

“The MENAP freight market is a significant one and urgently needs the transparency, reliability and efficiency that Trella and its technology platform provides. We are trusted and used by some of the world’s most recognisable brands, and look forward to working with our partners to scale across MENAP.”

Omar Almajdouie, Founding Partner of Raed VC, said: “Our unwavering belief in the founders coupled with the booming freight sector made the opportunity to lead Trella’s investment round very exciting. Trella’s product innovation has enabled them to grow significantly in the past year despite the tough operating environment. This is a testament to their resilient business model and strong team. We are excited to support the team in their growth journey.”

Jeppe Hoier, Partner at Maersk Growth, said: “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.” – TradeArabia News Service