Egypt-based trucking platform, Naqla has announced its raise of $10.5 million in a PreSeries A round. The round was led by major investors El Sewedy Capital Holding (SCH), Hassan Allam Holding (HAH), and the Sallam Family.
Naqla streamlines the shipping process, delivering cargo with end-to-end efficiency. Through its mobile app, customers can track all shipping operations and movement. Its all-inclusive app also allows for payment and documentation.
Once a customer fills in shipment details, Naqla identifies the best carrier and handles shipment management.
The startup also offers road assistance, finance, insurance, health care and maintenance.
On the round, Farouk Kadous, Board Member at El Sewedy Capital, says:
“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.”
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’s ultimate goal is to modernize and connect Egypt’s archaic and largely fragmented shipping industry.
Sherif Taher, Co-Founder and Chief Executive Officer of Naqla, said.
“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.”
Since its establishment, Naqla has accelerated rapidly, expanding into 35+ active zones, overseeing the movement and delivery of over 4.6 million tonnes of cargo. Naqla has onboarded more than 400 shippers and 10,500 drivers across Egypt.