Egypt – Cairo-base digital trucking marketplace Trella has stepped up its efforts to bolster its market leadership position through the acquisition of a local rival Trukto for undisclosed amount.
Trella, founded in late last 2018 by former Uber employees Omar Hagrass and Ali El Attrash, former Vezeeta employee Pierre Saad and Muhammad El Garem, connects shippers with carriers through its online marketplace.
Trukto, founded by Ahmed Khedr and Ali Khedr in 2017, also operated in the same space and Trella aims to leverage the acquisition to accelerate its growth strategy in the Middle East and North Africa.
After the acquisition, Trella revealed that it will now focus on the completion of operational and network integration with Trukto.
This, according to Trella, will result in it having more than 10,000 truckers in its network, making it the largest trucking marketplace in Egypt.
Trella which graduated from the Y Combinator accelerator program a few months ago raised US$600,000 in a pre-seed round from Algebra Ventures and NextBillion Ventures earlier this year.
The statement by Trella explained that Ahmed Khedr, the founder of Trukto, will oversee the transition and remain a significant shareholder of the combined company.
Trukto co-founder Ali Khadr will join Trella as Head of Growth initially leading the company’s port business and Trukto investor and board member Ahmed Fattouh will become a Trella board member.
Omar Hagrass, the co-founder and CEO of Trella, said, “We are very excited to welcome Trukto’s customers, employees and shareholders to Trella.”
“The combination of Trukto’s complementary product offering and our core tech-based marketplace will strengthen our ability to transform the industry and create more value to our stakeholders.”
Ahmed Khedr, the co-founder of Trukto, said, “We are extremely proud of our team at Trukto who pioneered the trucking marketplace model in Egypt arranging over 20,000 loads in two short years. We are excited about merging with Trella to execute on our shared vision.”
After the acquisition, Trella will now focus on the completion of operational and network integration with Trukto.
This, will result in it having more than 10,000 truckers in its network, making it the largest trucking marketplace in Egypt.