$10.5 M Pre-Series A funding raised by Egyptian trucking logistics startup Naqla
Naqla, an Egyptian transportation logistics company, has acquired $10.5 million in a pre-Series A fundraising round, allowing it to expand further in 2022.
Naqla is an app-based transportation technology platform that connects truck owners with cargo firms, founded by Sherif Taher and Samer Sallam in 2017. By automating orders between shippers and drivers, the business hopes to modernise and grow Egypt’s supply chain.
Naqla has expanded rapidly into over 35 active zones, managing the transportation and delivery of over 4.6 million tonnes of goods so far, and now works with over 400 shippers and 10,500 drivers across Egypt. It now intends to expand after receiving a pre-Series A investment of $10.5 million.
El Sewedy Capital Holding (SCH), Hassan Allam Holding (HAH), and the Sallam family led the round, and Naqla will utilise the funds to expand its commitment to technology and digitalisation, setting the firm for growth and development in 2022.
“We are now perfectly positioned to grow our digital logistics offering and market presence, bringing a much-needed technology infrastructure to the badly served Egyptian logistics and trucking industry, at a critical time in the country’s economic growth. We thank our investors for their part on the Naqla journey – this investment will enable rapid acceleration of our business and our planned vertical expansion into our new segments,” said Taher.
El Sewedy Capital board member Farouk Kadous expressed his delight at the opportunity to join Naqla on its drive to totally transform the region’s logistics infrastructure.
“We have tremendous expertise in the infrastructure space, and this investment will increase the synergies between our different portfolio companies. We love the leadership team at Naqla and are not just betting on the market size, but on their grit and vision,” he said.
