{"id":585390,"date":"2023-04-18T00:00:00","date_gmt":"2023-04-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/18\/trella-exits-pakistan\/"},"modified":"2023-04-18T00:00:00","modified_gmt":"2023-04-18T00:00:00","slug":"trella-exits-pakistan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/18\/trella-exits-pakistan\/","title":{"rendered":"Trella exits Pakistan"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Logistics startup <\/span><span style=\"font-weight:700\">Trella <\/span><span style=\"font-weight:700\">closes operations in Pakistan: <\/span><span style=\"\">Egypt-headquartered <\/span><span style=\"\">logistics startup <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.trella.app\/\" style=\"\">Trella<\/a><\/span><span style=\"\"> is putting its operations in Pakistan on hiatus three years after entering the country, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-04-13\/trucking-startup-backed-by-maersk-decides-to-exit-pakistan#xj4y7vzkg\" style=\"\">Bloomberg<\/a><\/span><span style=\"\"> reports, citing two sources it says have knowledge of the matter. <\/span><span style=\"font-weight:400;\">The company stopped taking on new business in March, the people said, making Trella the latest firm to exit the crisis-hit country.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The rationale? Economic woes: <\/span><span style=\"\">Import restrictions, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/871bc43f-34ba-49e9-b99a-9cc0470da11b\" style=\"\">FX shortages<\/a><\/span><span style=\"\">, and a rise in fuel prices have tipped Pakistan\u2019s economy into crisis. <\/span><span style=\"\">The economic problems are compounded by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unicef.org\/emergencies\/devastating-floods-pakistan-2022\" style=\"\">disastrous floods<\/a><\/span><span style=\"\"> that displaced tens of mns of people last year. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Some staff to remain: <\/span><span style=\"font-weight:400;\">Trella will keep some of its staff on the payroll to support operations in Egypt, Saudi Arabia and the UAE, the news outlet reports. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Trella isn\u2019t the only one <\/span><span style=\"font-weight:700\">pulling back<\/span><span style=\"font-weight:700\">:<\/span><span style=\"\"> Trella is following in the footsteps of several companies looking to wind down their Pakistani operations. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b252d5fc-e5e3-41f9-a8ca-8c9cf8c17127\" style=\"\">EFG Hermes<\/a><\/span><span style=\"\"> is heading for the exit, <\/span><span style=\"\">Careem last year <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.brecorder.com\/news\/40177385\" style=\"\">shuttered its food delivery business<\/a><\/span><span style=\"\">, and Swvl <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wamda.com\/2022\/11\/swvl-slashes-50-cent-workforce-shuts-operations-pakistan\" style=\"\">closed its operations<\/a><\/span><span style=\"\"> in November. <\/span><span style=\"\">Consumer healthcare operator IDH said in February it had <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4903d368-0c9c-4f9f-8a22-61e9c43d1248\" style=\"\">terminated its planned acquisition<\/a><\/span><span style=\"font-weight:400;\"> of labs operator IDC.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REFRESHER<\/span><span style=\"\">- Trella closed one of Egypt\u2019s largest-ever series A rounds in 2021, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/85f214d3-40dd-4236-b156-ddf241385e11\" style=\"\">raising USD 42 mn<\/a><\/span><span style=\"\"> in a round co-led by Maersk\u2019s VC arm. The company received <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df3cdafd-af45-467d-8324-e9ff5ce8b502\" style=\"\">USD 6 mn in debt financing<\/a><\/span><span style=\"\"> last year to help it expand in Pakistan and Egypt.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>EFG Hermes, IDH, Careem and Swvl have all closed their doors in Pakistan amid the country\u2019s economic crisis<\/p>\n","protected":false},"author":1,"featured_media":585391,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[72,145,474,95,2482],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-585390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam","tag-logistics","tag-pakistan","tag-startup-watch","tag-trella","wpautop","entry"],"acf":{"mongo_id":"28cc0c33-cecb-4360-8a04-d2d3753e584d","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/620.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian logistics startup Trella exits Pakistan","related_issue":[585378],"teaser":"EFG Hermes, IDH, Careem and Swvl have all closed their doors in Pakistan amid the country\u2019s economic crisis","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.f45209ec-e4f7-479e-ba21-260dcf11269d.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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ALMA got a USD 4.2 mn guarantee facility from DFC, allowing it to\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/286.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566463,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/trella-closes-usd-42-mn-series-a-round-co-led-by-maersk-vc-arm\/","url_meta":{"origin":585390,"position":2},"title":"Trella closes USD 42 mn series A round co-led by Maersk VC arm","author":"enterpriseam admin","date":"21 June 2021","format":false,"excerpt":"Egyptian digital trucking platform Trella closed a USD 42 mn series A round co-led by Maersk Growth, the venture capital arm of container shipping giant Maersk, according to a statement (pdf). The financing includes USD 30 mn new equity and USD 12 mn debt facilities, which likely go towards the\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/548.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591428,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/05\/egyptian-trucking-app-trella-acquires-rival-company-trukto\/","url_meta":{"origin":585390,"position":3},"title":"Egyptian trucking app Trella acquires rival company Trukto","author":"enterpriseam admin","date":"5 December 2019","format":false,"excerpt":"STARTUP WATCH- Trella acquires rival Trukto: Egyptian digital trucking marketplace Trella has acquired its local rival Trukto, making it the largest company of its kind in Egypt, Trella told Menabytes, without disclosing the details of the transaction. The acquisition will help Trella increase its market share and accelerate its growth\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":602125,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/19\/trella-planning-to-scale-up-step-by-step\/","url_meta":{"origin":585390,"position":4},"title":"Trella planning to scale up \u201cstep-by-step\u201d","author":"enterpriseam admin","date":"19 March 2019","format":false,"excerpt":"It\u2019s another painfully slow news day in the international press as far as Egypt is concerned. African startup news site Disrupt Africa is running an interview with Egyptian trucking startup Trella, which raised USD 600K in pre-seed funding with the help of our friends at Algebra Ventures. They\u2019re not planning\u2026","rel":"","context":"In &quot;EGYPT IN THE NEWS&quot;","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/295.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595921,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/14\/egyptian-trucking-app-trella-joins-y-combinator-accelerator-program\/","url_meta":{"origin":585390,"position":5},"title":"Egyptian trucking app Trella joins Y Combinator accelerator program","author":"enterpriseam admin","date":"14 August 2019","format":false,"excerpt":"STARTUP WATCH- Trucking app Trella joins Y Combinator accelerator program: B2B trucking startup Trella has been accepted onto Y Combinator\u2019s summer 2019 accelerator program, according to a press release (pdf). This will give the Cairo-based company access to the US startup accelarator\u2019s network of investors, mentors, and partners. The likes\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/585390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=585390"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/585390\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/585378"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/585391"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=585390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=585390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=585390"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=585390"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=585390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}