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Thursday, 20 October 2022

Trella secures USD 6 mn in venture debt backed by the US gov’t

The good people at B2B logistics marketplace Trella have secured USD 6 mn in debt financing from global debt platform ALMA Sustainable Finance and the US government’s US International Development Finance Corporation (DFC), according to a press release. ALMA got a USD 4.2 mn guarantee facility from DFC, allowing it to lend the USD 6 mn to Trella, according to the statement.

SOUND SMART- Otherwise known as “venture debt,” debt financing typically combines the traditional features of a loan with some aspects of VC financing. We answer all your questions in our recent explainer.

Pakistan + Egypt focus: Trella will use the financing to help it expand in those two markets. The agreement will also see USAID offer technical assistance to Trella on its Egyptian and Pakistani operations. The company currently operates in Egypt, Pakistan, Saudi Arabia and the UAE.

What they said: “We need new sources of capital to maintain our high-growth trajectory and reach the thousands of truckers across the region who need support to access more shipments, faster payments, and other integral services,” said Trella CEO and co-founder Omar Hagrass (LinkedIn | Making It).

Trella is on a financing push: The startup last month inked an agreement with Contact Financial designed to give it and the carriers it works with the access to finance they need to grow. Trella closed one of Egypt’s largest-ever series A rounds last year, raising USD 42 mn in a round co-led by Maersk’s VC arm. The company said at the time that the money would be used to expand in the MENAP region and develop its platform.

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