Trella 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.
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. 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 disrupts and reshapes the freight industry by connecting 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.
