Egypt’s Trella secures $6mln debt financing from ALMA

Egypt’s Trella secures $6mln debt financing from ALMA

Cairo - Egyptian digital freight marketplace Trella recently raised $6 million in debt funding from ALMA Sustainable Finance and the US International Development Finance Corporation (DFC).

Valued at $4.2 million, the guarantee facility will enable ALMA to deploy $6 million in debt financing and endorse Trella’s business in Pakistan and Egypt, according to a press release.

ALMA’s debt financing, which is backed by DFC, will support the expansion of Trella’s platform for micro, small, and medium enterprise (MSME) truckers in Egypt and Pakistan. This step will enhance income for MSME truckers and cut greenhouse gas (GHG) emissions in logistics.

Furthermore, the project will benefit from technical services provided by the US Agency for International Development (USAID) in Pakistan and Egypt.

Jim Polan, Vice President of the Office of Development Credit at DFC, said: “This transaction is an example of DFC’s work and operation in Pakistan, which DFC hopes to grow in the coming years.”

Gautam Ivatury, a managing partner at ALMA, commented: “As debt lenders, we want to extend more financing in lower-middle-income countries such as Pakistan and Egypt, and having the DFC guaranty facility allows us to reach more companies in these regions and have broader development impacts.”

Omar Hagrass, CEO of Trella, concluded: “Trella’s