Trucking Technology Platform Trella Plans Major Expansions in MENAP
Trella, the fastest growing digital freight marketplace in MENAP, is nearing the conclusion of a stellar year. In 2021, Trella cemented its position as regional market leader, and a direct contributor to the region’s economic growth and prosperity.
The MENAP Road Freight market is a significant one - worth $50 billion. The pandemic-induced e-commerce boom and expansion of free trade agreements have contributed to this growth, and demand for digital freight services is expected to accelerate as the world recovers from the pandemic.
2022 will be very exciting for Trella. The company anticipates the first quarter to include multiple new market entries in the GCC, plus M&A, as Trella seeks to consolidate the wider value chain.
2021 highlights included:
Series A fund raise - in June 2021, Trella completed a $42 million funding round, comprising $30 million new equity and $12 million debt facilities.
Fundraise proceeds are being invested in tech capacity and product development to fuel growth, accelerate the Company’s journey to reduce the costs of moving goods, and continue being the regional market leader.
ExxonMobil partnership - in July 2021, Trella announced a partnership with ExxonMobil Egypt S.A.E. to expand and empower its network of trucks across Egypt.
The partnership was ExxonMobil’s first direct investment and collaboration with a tech start-up in the MENA region. This followed ExxonMobil’s original investment in Trella in 2019.
UAE expansion - in October 2021, Trella announced its expansion into the UAE. This extended the Company’s ability to seamlessly support trade and trucking across the GCC, especially between the UAE and Saudi Arabia, and help regional MENA economies grow via a more efficient transportation of goods.
Trella now has operations in four countries: its home market - Egypt, Saudi Arabia, Pakistan and the UAE.
Omar Hagrass, CEO and co-founder of Trella, said: “2021 has been a stellar year for Trella. With the economic prosperity of countries intrinsically linked to logistics competency, we understand the vital role we play in the ecosystem.
"Hence, we are thrilled to see Trella grow so strongly; announcing new partnerships, new market entries and a considerable fund raise.
“By delivering a transparent, reliable and efficient trucking service, we help regional MENA economies prosper and this was core to our recent brand lift.
"We are hugely excited for Trella in 2022 with multiple new market entries and some M&A planned for the first quarter - all of which paves the way for the next frontier of efficiency of trucking in the MENA region.”