Egypt-based logistics platform Naqla has raised $10.5 million in a pre-series A round led by investors El Sewedy Capital Holding and Hassan Allam Holding with the Sallam Family.
“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.”
~ Farouk Kadous, Board Member at El Sewedy Capital
Naqla is the first trucking platform in Egypt since 2017, that connects shippers with truckers through its ground-breaking technology platform. Since its establishment, founders Sherif Taher and Samer Sallam have expanded Naqla into a 165-person organization spread across all the major country locations.
The startup was set with the mission to simplify the process of the transportation of goods and ensure efficient and hassle-free shipping through a mobile app that connects shippers with a network of trusted carriers. The Application streamlines shipping from load pricing, pick up to delivery, payment, and documentation to put an end to the manual process and save valuable time.
The logistics industry in Egypt is worth $13 billion. Naqla, since its formation has delivered 4.6m tonnes of cargo in 35+ zones across Egypt. It currently connects more than 400 shipping and cargo companies with 10,500 drivers.
“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.”
~ Sherif Taher, Co-Founder and CEO of Naqla
The fresh funds will help the startup invest further in advancing its technology, digitising the freight process and positioning the company for growth and development in 2022.