Naqla, Egypt’s trucking technology platform and marketplace connecting truck owners with cargo companies, has raised $10.5 million in a Pre-Series A round. The round was led by major investors El Sewedy Capital Holding (SCH), Hassan Allam Holding (HAH), and the Sallam Family. Egyptian logistics platform Naqla raises $10.5m in Pre-Series A. Naqla’s core mission is to modernize and expand Egypt’s supply chain through technology by automating orders between shippers and drivers through its two main apps. Naqla has seen rapid growth into 35+ active zones, overseeing the movement and delivery of over 4.6 million tonnes of cargo since its establishment in 2017, and is currently working with more than 400 shippers and 10,500 drivers across Egypt. Naqla’s business model addresses the historically underserved road freight sector in Egypt, which has grown in importance since the start of Covid-related supply-side constraints. Businesses are continuously looking for further efficiencies in inland transport from Egypt’s major entry and exit ports to maintain the flows of goods within their supply chains.
The rapid growth of Egypt’s construction and consumer goods industry has meant demand for trucking continues to rise, with employees in the sector now making up 2% of the labour force, or 3-4% of GDP – $13bn in Egypt and $45bn across the MENA region. Many of the 1.5 million trucks in Egypt are owned by individual drivers, whom Naqla aims to onboard onto its Carrier ecosystem, consisting of road assistance, finance, insurance, health care and maintenance. Naqla will use proceeds of this investment to invest further in its commitment to advancing technology and digitization, positioning the company for growth and development in 2022. Naqla was established in 2017 by an experienced management team in the supply chain space with the aim of digitally transforming and modernizing Egypt’s E£30 billion road freight industry. Naqla provides a more affordable, efficient, and transparent alternative for participants by using app-based technology to connect independent carriers with cargo companies to generate the best rate and most efficient paths for both parties.