To support the expansion of its activities, the Egyptian B2B trucking marketplace Trella has obtained an additional sizeable finance facility from ALMA Sustainable Finance (ALMA) and the US International Development Finance Corporation (DFC).
Trella, a transportation marketplace and B2B technology platform, links shippers and carriers in real-time. The firm, which operates across the Middle East and Pakistan, has over 350 shipper partners, including household names like Coca-Cola, Maersk, Mondi, Henkel, Amazon, and DHL. Additionally, it works with over 30,000 carriers.
Trella completed a US$42 million Series A funding round, consisting of US$30 million in equity and US$12 million in debt facilities, to aid in its expansion, as reported by Disrupt Africa in June of last year. Last month, it followed that up with additional, undisclosed, debt capital from Contact Financial Holding.
The DFC guaranty and ALMA’s debt financing will promote the growth of Trella’s platform for MSME truckers in Egypt and Pakistan, two lower-middle income nations where MSMEs are the main employers while having operational difficulties. The initiative will also profit from the technical support offered by USAID/Egypt and USAID/Pakistan.
According to Gautam Ivatury, managing partner of ALMA Sustainable Finance, “We are really happy to have the assistance of DFC to be able to extend more finance to high-growth digital enterprises such as Trella.” Since the DFC guaranty facility enables us to reach more businesses in these areas and have larger development impacts, we as debt lenders are able to give additional finance to lower middle income nations like Pakistan and Egypt.
According to Omar Hagrass, CEO of Trella, “Trella’s activities will considerably benefit from the additional debt financing granted by ALMA with the support of the DFC guarantor.” “In an industry like ours, we need additional sources of financing to maintain our high-growth trajectory and serve the thousands of truckers throughout the region who require support to access more shipments, quicker payments, and other essential services,” the company stated.