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Proceeds will be used by Trella to invest in tech capacity and product development to fuel growth
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Trella connects shippers directly to carriers, with significant positives for both
Trella, a 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 AP Moller–Maersk and Saudi Arabian venture capital firm, Raed Ventures.
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 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 Egypt, Saudi Arabia and Pakistan. The MENAP Road Freight market is worth $50 billion.
Trella connects shippers directly to carriers, with significant positives for both. The platform solves industry challenges including shippers suffering unreliability, inefficiency via fragmented truck ownership, high price points and low transparency.
Shippers can book directly and access a transparent pricing structure. Shipments can be tracked in real-time, and receive analytics on transportation performance. Improved load utilization also helps reduce cost. For truck drivers, Trella improves the efficiency as freight is moved intelligently – which boosts carriers’ earnings and creates job opportunities.
Trella has more than 350 shipper partners including blue-chip brands such as Coca-Cola, Maersk, Mondi, Henkel, Orascom and Cemex. It also has more than 15,000 carrier partners.
