Egypt based start-up Trella to uplift $42million in Series A funding - MENA startups, innovation, and tech news

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Egypt based start-up Trella to uplift $42million in Series A funding
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Egypt based start-up Trella to uplift $42million in Series A funding

On 21 st June 2021, Cairo-Egypt-based startup- Trella raised around $42million in series A funding. $30 million in equity investment and $12 million as debt financing has been the division of the raise. “The equity part of the round was led by Maersk Growth, the corporate venture arm of one of the world’s leading shipping and logistics company Maersk, and Saudi-based Raed Ventures.” according to menabytes.com.

Trella is a business-to-business technology platform and trucking marketplace that connects shippers with carriers in the highly fragmented freight industry. It was founded in November 2018 by Omar Hagrass, Ali El Atrash, and Pierre Saad. The startup has its root in places like Egypt, Pakistan, and Saudi Arabia.

Omar Hagrass, CEO of Trella, said, “This $42m funding round is a significant boost to Trella’s capabilities, business model and market opportunity. We have a strong investor diversity and thank all participants for their support,” he added, “It is great that Maersk, as a Trella-using shipper customer, is investing in our future growth.”

Omar Almajdouie, Co-Founder of Raed Ventures, said, “Our steadfast belief in the founders along with the burgeoning shipping sector made the opportunity to lead a very exciting Trella investment round.”

“The innovation of Trella products has enabled significant growth in the past year despite the challenging operating environment. This is proof of their resilient business model and strong team,” he also said, “We are excited to support the team on their growth journey.”

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