Cairo, Egypt – Contact financial holding, the leading Egyptian non-banking financial services company, announced the signing of a collaboration agreement with B2B tech platform and trucking marketplace Trella, to continue the expansion of Contact’s credit services and enable a wide variety of digital platforms to meet their business objectives.
Trella, the fastest growing digital freight marketplace in MENAP, is a B2B technology platform that connects shippers with carriers. Trella is revolutionizing the transportation and logistics sector by reinventing trucking to bring transparency, reliability, and efficiency to an antiquated logistics market.
Contact and Trella are partnering up through four different subsidiaries within Contact; Contact Factoring, Contact Leasing, Contact Credit, and Contact Creditech. Each agreement provides a tailored service to finance Trella’s working capital needs, their carrier base, truck spare parts, and maintenance services, supporting Trella’s rollout in Egypt and its regional expansion.
Contact Factoring signed a financing agreement to finance Trella Egypt’s working capital needs. This strategic collaboration also serves Trella through Contact Financial Holding’s other two subsidiaries, Contact Credit and Contact Leasing; they will finance Trella’s carrier base to purchase trucks for either individual carriers or MSMEs owning a number of trucks and wishing to increase their fleet.
Additionally, as part of Contact Financial Holding’s collaboration with Trella to support and ensure the continuity of their truck drivers, Contact Creditech, which specializes in consumer finance, will finance Trella carriers’ purchases on Trella Store, an e-commerce platform designed by the company to provide trucking products such as tires, brakes, engine lubricants, maintenance services, and other trucking necessities.
Said Zater, CEO of Contact Financial Holding, said: “I can’t express my gratitude for this collaboration as Contact has always been keen on exploring and supporting new start-up businesses. We are very proud to partner with Trella and provide them with the financial solutions needed to expand their business. Contact integrates the tech-based system and the company's dynamic efforts toward enabling emerging digital platforms to support financial inclusion initiatives spearheading the lending-as-a-service(LaaS) in Egypt”
From his side, Omar Hagrass, CEO of Trella commented, “We are fortunate to have Contact as one of our partners to provide different financing solutions to our customers. The supply chain has been witnessing a lot of innovation lately, but not as much was felt on scaling financing options to the stakeholders involved. Through our partnership with Contact, we are going to avail ancillary financing solutions to our carriers, in addition to sourcing working capital facilities to our trucking business, getting us one step closer towards achieving our vision to empower our communities.”
This agreement comes as a part of Contact’s strategic direction and continuous efforts in supporting startup companies. Contact has been and is always keen to collaborate with Partners to develop and improve how consumers and companies access non-financial services and achieve a high-quality customer experience. Previously, Contact signed several collaborations with notable startups including Wasla, Carzami, OneOrder, Shatablee, Toothpick, Nawy, Sakneen, and finally Trella.
Contact Financial Holding (Egyptian stock code CNFN,CA) is a leading group in providing non-bank financial solutions and services, managing a group of companies that provides a full range of financing and insurance products and services. Contact adopts an innovative approach to ensure the provision of its services of the highest quality in the fields of finance and insurance, with the easiest process to reach a wide segment of the market.
Through Contact credit, Contact offers various financing programs to finance the purchase of new and used cars and vehicles, durable goods financing programs, in addition to the home finance and finishing programs through Contact Mortgage and trade finance programs through its sister companies Contact Leasing and Contact Factoring. Contact also provides insurance services through Sarwa Insurance and Sarwa Life Insurance. The company is also the first and largest issuer of securitization bonds in various fields in the Egyptian market. Contact Financial Holding Company LLC. Is licensed and regulated by the Financial Regulatory Authority.
Trella is a B2B technology platform and trucking marketplace connecting shippers with carriers, and the fastest growing digital freight marketplace in The Middle East and Pakistan. Trella has 350+ shipper partners including blue-chip brands such as Coca-Cola, Maersk, Mondi, Henkel, Amazon, and DHL. It also has 30,000+ carrier partners. Founded in 2019, Trella has successfully expanded into Egypt, KSA, Pakistan, and UAE.