CAIRO – 13 June 2023: Trella, a B2B technology platform and trucking marketplace connecting shippers with carriers, raised $3.5 million from private equity fund Avanz Capital Egypt.
Avanz Capital Egypt, subsidiary of I Squared Capital International, also launched two new funds.
The first fund focuses on supporting small and medium enterprises (SMEs) and the second fund focuses on low-carbon projects intending to issue carbon credits.
Avanz Capital Egypt aims to capitalize on Trella’s innovative solutions and contribute to the growth and success of the logistics industry in Egypt through its investment.
Trella was founded in 2019 and it operates in Egypt, Saudi Arabia and Pakistan.
Earlier this month, Egypt’s Prime Minister, Mostafa Madbouly issued a decision to establish a permanent unit in the Egyptian Cabinet tasked with proposing appropriate policies, laws, and regulations for the growth and prosperity of startups in Egypt.
Madbouly affirmed the state's interest in supporting and stimulating the entrepreneurship ecosystem, stressing that urgent and rapid action is required in order to stimulate and facilitate the procedures for establishing startups.
Be Social
Comments
Leave a Comment