iPhone | iPad
Android
Huawei
Julian Wentzel will be transferring from London where he is currently HSBC’s had of global banking for the UK and International Europe
KT APPDOWNLOAD
Trella to expand operations in UAE
Trella’s fund raise proceeds are being invested in tech capacity and product development to fuel growth. — Supplied photo
Dubai - Regional market leader’s expansion complements existing operations in Saudi Arabia, and will support trade with the UAE.
Trella, the fastest growing digital freight marketplace in MENAP, will expand its operations into the UAE.
The UAE expansion complements Trella’s existing operations in Saudi Arabia and increases Trella’s presence to four countries: its home market — Egypt, Saudi Arabia, Pakistan and now the UAE. This expansion means Trella extends its ability to seamlessly support trade and trucking, across the GCC, especially between the UAE and Saudi Arabia.
Trella’s growth follows the recent, successful completion of a $42 million funding round, comprising $30 million new equity and $12 million debt facilities. The MENAP Road Freight market is worth $50 billion, and Trella’s fund raise proceeds are being invested in tech capacity and product development to fuel growth, accelerate the Company’s journey to reducing the costs of moving goods, and continue being the regional market leader.
Trella growth strategy remains focused on its GCC expansion plan. This latest market entry paves the way for a new multi-city expansion, which will increasingly connect multiple trucking routes – representing a next frontier in efficiency of trucking in the region – and is consistent with Trella’s mission to reinvent trucking.
“Trella’s expansion into the UAE is a huge milestone for the company. Logistics competency is directly linked to economic growth meaning our platform’s ability to bring more transparent, reliable and efficient trucking more widely across the GCC," said Peter May, Head of Global Expansion, Trella.
“The MENAP freight market is a significant one, and we are trusted and used by some of the world’s most recognisable brands. Today’s launch in the UAE is just the start of our wider roll-out across more cities and countries in the GCC.”
Trella disrupts and reshapes the freight industry by connecting shippers directly to carriers, with significant positives for both. The platform solves industry challenges including shippers suffering unreliability, inefficiency via fragmented truck ownership, high price points and low transparency.
Shippers can book directly and access a transparent pricing structure. Shipments can be tracked in real-time, and receive analytics on transportation performance. Improved load utilization also helps reduce cost. For truck drivers, Trella improves efficiency as freight is moved intelligently – which boosts carriers’ earnings and creates job opportunities.
Trella has 350+ shipper partners including blue-chip brands such as: Coca-Cola, Maersk, Mondi, Henkel, Orascom and Cemex. It also has 15,000+ carrier partners. — sandhya@khaleejtimes.com
More news from Business
Group operating revenues rise to EGP2.1 billion in second quarter of 2022 despite a turbulent global macro-economic backdrop
President Abdel Fattah Al Sisi accepted the resignation of Amer, who took up his post in 2015 and had been due to stay on until next year
The UAE’s economy grew by 3.8 per cent in 2021 due to appropriate government incentives and plans and the vaccination of all citizens and residents, noting that the growth of the non-oil sector also played a significant role in this economic recovery.
Oil hit a six-month low after a brief rally as concerns about the prospect of a global recession
US bank also revises up its expectations for BoE interest rates, predicting they would rise by 1.25 percentage points to three per cent by the end of this year
CPI rate rises to 10.1% in July from 9.4% in June; Inflation last higher in February 1982; Economists expect BoE to raise rates again next month; Signs of some easing of price pressures for factories
Apple has been shifting some areas of iPhone production from China to other markets, including India, where it started manufacturing iPhone 13 this year, and is also planning to assemble iPad tablets