Contact Financial Holding, a top non-banking financial services provider in Egypt has agreed to provide Trella with a sizeable financing facility so it can develop its business in a number of ways.
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 concluded a US$42 million Series A investment round in June of last year, consisting of US$30 million in equity and US$12 million in lending facilities to aid in its expansion.
Now, it has followed that up with more, unnamed, debt capital from Contact. Through Contact’s four subsidiaries. Contact Factoring, Contact Leasing, Contact Credit, and Contact Creditech are the two businesses that are collaborating.
To assist Trella’s continued rollout in Egypt and growth, each agreement offers a customized solution to finance Trella’s working capital requirements, its carrier base, truck spare parts, and maintenance services.
Trella Egypt’s working capital requirements were funded through a financing deal negotiated with Contact Factoring.
Through Contact Financial Holding’s other sister companies, Contact Credit and Contact Leasing, which will finance Trella’s carrier base to buy trucks for either individual carriers or MSMEs possessing a number of trucks and wanting to boost their fleet, this strategic partnership also benefits Trella.
Furthermore, as part of Contact Financial Holding’s partnership with Trella to assist and guarantee the consistency of their truck drivers, Contact Creditech, a customer finance firm, will fund Trella carriers’ buying on Trella Store, an online store created by the business to offer trucking products like tires, brakes, engine lubricants, maintenance services, and other essentials.
The company is lucky to have Contact as one of its partners, according to Omar Hagrass, CEO of Trella, so that it can offer a variety of financing options to its clients.
Recently, the supply chain has seen a lot of innovation, but less was seen when it came to expanding finance choices to the connected parties.
The startup’s agreement with Contact will enable the company to provide auxiliary finance options to its carriers as well as working capital facilities for its trucking operation, moving it one step closer to realizing its objective of empowering communities.
Contact Financial Holding’s CEO, Said Zater, stated that Contact has always been interested in discovering and assisting fresh start-up enterprises.
“We are thrilled to work with Trella and offer them the financial options they require to grow their company. Contact combines the tech-based system and the business’ dynamic efforts to assist growing digital platforms that are driving lending-as-a-service activities in Egypt.”
One of the elements that are crucial in the modification and enhancement of the economy is logistics. The logistics sector makes large macroeconomic contributions to the national economy through generating jobs, national income, and foreign investment inflow.
On a smaller scale, the logistics sector is crucial for boosting a company’s ability to compete. The logistics sector also plays a significant role in reviving and enhancing the competitiveness of other industries. Today, the logistics sector is essential to every industry.
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