Private equity fund Avanz Capital Egypt has committed a $3.5 million investment in the Egyptian logistics startup, Trella to support the growth of the Egyptian logistics industry.
Launched in 2022, the private equity fund is a subsidiary of Squared Capital International, focusing on investing in startups and SMEs to help the Egyptian market grow and prosper overall by supporting these businesses.
With two new funds in addition to supporting Trella, the company is looking to further broaden its investment portfolio. The first fund is focused on helping small and medium-sized businesses (SMEs), and it aims to give them the funds and resources they desperately need to assist their expansion; while the second fund sets its sights on low-carbon projects, intending to issue “carbon credits” under the name “EGYCOP.”
Trella was founded in 2018 by Omar Hagrass, Ali El Atrash, Pierre Saad and Muhammad El Garem, as a technology platform that removes trucking hassles by connecting shippers with qualified carriers to move and manage loads seamlessly.
Last year, the logistics startup also secured $6 million in debt funding from ALMA Sustainable Finance (ALMA) and the U.S. International Development Finance Corporation (DFC). Currently, it is operating in Egypt, Saudi Arabia, United Arab Emirates, and Pakistan.
Source : Techloy