Significant debt facility received by Egyptian logistics startup Trella to expand operations
The top non-banking financial services provider in Egypt, Contact Financial Holding, has agreed to provide Trella with a sizeable financing facility so it may 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 Egypt’s working capital requirements were funded through a financing deal negotiated with Contact Factoring. Through Contact Financial Holding’s other two subsidiaries, Contact Credit and Contact Leasing, which will finance Trella’s carrier base to buy trucks for either individual carriers or MSMEs owning a number of trucks and wanting to increase their fleet, this strategic partnership also benefits Trella.
Additionally, as part of Contact Financial Holding’s partnership with Trella to support and guarantee the continuity of their truck drivers, Contact Creditech, a consumer finance company, will fund Trella carriers’ purchases on Trella Store, an online store created by the business to offer trucking products like tires, brakes, engine lubricants, maintenance services, and other essentials.
“We are fortunate to have been contacted as one of our partners to provide different financing solutions to our customers. The supply chain has been witnessing a lot of innovation lately, but not as much was felt on scaling financing options to the stakeholders involved. Through our partnership with Contact, we are going to avail ancillary financing solutions to our carriers, in addition to sourcing working capital facilities to our trucking business, getting us one step closer towards achieving our vision to empower our communities,” said Omar Hagrass, CEO of Trella.
Contact Financial Holding’s CEO, Said Zater, stated that Contact has always been interested in discovering and assisting fresh start-up enterprises.
“We are very proud to partner with Trella and provide them with the financial solutions needed to expand their business. Contact integrates the tech-based system and the company’s dynamic efforts toward enabling emerging digital platforms to support financial inclusion initiatives spearheading the lending-as-a-service in Egypt,” he said.
