Contact Financial Holding, Egypt’s non-banking financial services company, partners with Trella through its four different subsidiaries Contact Factoring, Contact Leasing, Contact Credit, and Contact Creditech. Each agreement provides a tailored service to finance Trella’s working capital needs, carrier base, truck spare parts, and maintenance services, supporting Trella’s rollout in Egypt and its regional expansion.
Contact Factoring signed a financing agreement to finance Trella Egypt’s working capital needs and Contact’s two other subsidiaries Contact Credit and Contact Leasing will finance Trella’s carrier base to purchase trucks for either individual carriers or MSMEs owning a number of trucks and wishing to increase their fleet.
Contact Creditech will finance Trella carriers’ purchases on Trella Store, an e-commerce platform that provides trucking products such as tires, brakes, engine lubricants, maintenance services, and other trucking necessities.
“We are fortunate to have Contact 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,” Omar Hagrass, CEO of Trella, said.
This agreement comes as a part of Contact’s strategic direction to supporting startups. Contact has collaborated with startups such as Wasla, OneOrder, Shatablee, Toothpick, Nawy and Sakneen
Trella is a digital freight marketplace and B2B tech platform in MENAP that connects shippers with carriers. Trella has raised $42 million in funding and aims to “revolutionize the transportation and logistics sector by reinventing trucking to bring transparency, reliability, and efficiency to an antiquated logistics market.”
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