Naqla raised $10.5m in a pre-series A funding

Naqla raised $10.5m in a pre-series A funding

Naqla, Egypt’s trucking technology platform and marketplace connecting truck owners with cargo companies, has raised $10.5 million in a Pre-Series A round. The round was led by El Sewedy Capital Holding (SCH), Hassan Allam Holding (HAH), and the Sallam Family.

Naqla’s core mission is to modernize and expand Egypt’s supply chain through technology by automating orders between shippers and drivers through its two main apps.

“We are now perfectly positioned to grow our digital logistics offering and market presence, bringing a much-needed technology infrastructure to the badly served Egyptian logistics and trucking industry, at a critical time in the country’s economic growth. We thank our investors for their part on the Naqla journey – this investment will enable rapid acceleration of our business and our planned vertical expansion into our new segments,” Sherif Taher, Co-Founder and Chief Executive Officer of Naqla, said.

Naqla will use the fund to invest further in its commitment to advancing technology and digitization, positioning the company for growth and development in 2022.

Naqla was founded in 2017 by Sherif Taher and Samer Sallam and grew into 35+ active zones, overseeing the movement and delivery of over 4.6 million tonnes of cargo, and is currently working with more than 400 shippers and 10,500 drivers across Egypt.

“We’re thrilled to join Naqla on their journey towards a destination of completely changing the infrastructure of logistics in the region. We have tremendous expertise in the infrastructure space, and this investment will increase the synergies between our different portfolio companies. We love the leadership team at Naqla and are not just betting on the market size, but on their grit and vision,” Farouk Kadous, Board Member at El Sewedy Capital, added.

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