Cairo-based digital trucking marketplace Trella has completed a US$42 million Series A funding round, comprising US$30 million in equity and US$12 million in debt facilities, for major expansion in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP). It is now targeting much bigger growth in the MENAP region after securing US$42 million in a Series A round of equity and debt funding. The equity element was led by Maersk Growth – the corporate venture arm of global multinational A.P. Other participating investors include Algebra Ventures, Vision Ventures, Next Billion Ventures, Venture Souq, Foundation Ventures and Flexport. “This US$42 million funding round is a huge endorsement of Trella’s capabilities, business model and market opportunity.

Source: The North Africa Journal June 22, 2021 06:00 UTC