Logistics startup Trella secures US$3.5 m from Avanz Capital Egypt

Logistics startup Trella secures US$3.5 m from Avanz Capital Egypt

Egypt’s marketplace for trucks, Trella, announced it secured US3.5 million from Avanz Capital Egypt, according to the company statement.

Last year, Trella also secured $6 million in debt funding from ALMA Sustainable Finance (ALMA) and the US International Development Finance Corporation (DFC).

Founded in 2018 by Omar Hagrass, Ali El Atrash, Pierre Saad, and Muhammad El Garem, the company is connecting shippers with trucks in real-time.

The newly-launched private equity fund Avanz Capital Egypt  Avanz Capital fund is a subsidiary of Squared Capital International and monitors a couple of funds.

Avanz Capital Egypt aims to contribute to the overall development and expansion of the Egyptian market. 

The first fund by Avanz Capital fund focuses on investing in startups and SMEs and, while the second fund is aimed at supporting low-carbon projects.

Avanz Capital Egypt’s investment strategy encompasses various sectors, including healthcare, logistics, green economy, renewable energy, and defense, among others.

The first closing of Avanz Manara Fund in March collected financial obligations of approximately 905 million pounds, with about 25% of the amount already paid.

The second fund sets its sights on low-carbon projects, intending to issue “carbon credits” under the name “EGYCOP.” 

With an initial target of raising one billion pounds, this fund emphasizes Avanz Capital Egypt’s commitment to sustainable investments and the transition to a greener economy. By capitalizing on opportunities in the low-carbon sector, Avanz Capital Egypt seeks to drive positive environmental impact while generating attractive returns for investors.

Avanz Capital’s parent company, “I Squared Global Capital,” manages assets worth over $13 billion in 130 companies worldwide, according to media reports. The company targets investments in funds and companies in startup and emerging markets, with a particular focus on Africa, Latin America, and Asia.

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