The startup will use this acquisition to further expand in the region and dominate the market.
Cairo-based digital trucking marketplace Trella has acquired local rival Trukto, without disclosing any financial details of the transaction. The acquisition will aid the startup’s efforts in increasing its market share and rising to prominence in the industry as a market leader, said the startup to MENAbytes. After the acquisition, completion of operational and network integration will result in Trella having over 10,000 truckers in its network, assembling Egypt’s largest trucking marketplace. The startup plans to use the acquisition to accelerate its growth strategy in the region.
Established in late 2018 by Omar Hagrass and Ali ElAttrash, former Vezeeta employee Pierre Saad, and Muhammad ElGarem, Trella, which graduated from the Y Combinator accelerator programme, connects freight shippers with carriers through its online marketplace. Trukto, which operates in the same field, was founded by Ahmed Khedr and Ali Khedr in 2017. The statement does not confirm if all Trukto employees will be moving to Trella but the startup’s employee pool would expand to over one hundred employees.
The combination of Trukto’s complimentary product offering and our core tech-based marketplace will strengthen our ability to transform the industry and create more value to our stakeholders.
“We are very excited to welcome Trukto’s customers, employees, and shareholders to Trella. The combination of Trukto’s complimentary product offering and our core tech-based marketplace will strengthen our ability to transform the industry and create more value to our stakeholders,” says Omar Hagrass, co-founder and CEO of Trella.
The statement provided by Trella points out that Ahmed Khedr, the founder of Trukto, will oversee the transition process and remain a significant shareholder of the combined company. Additionally, Trukto’s co-founder Ali Khedr will join Trella’s team as their Head of Growth, as he leads the company’s port business, with Trukto’s investor and board member Ahmed Fattouh becoming a Trella board member too.
Trukker, the Dubai-based trucking marketplace has also recently announced its plans to expand to Egypt and compete in the now heavily saturated market.
Sign up for the daily Startup Digest.