Swvl

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Swvl, LLC
TypePrivately held company
IndustryTechnology
Vehicle for hire
Founded2017; 4 years ago (2017)
Founder
HeadquartersCairo, Egypt
Area served
Middle East, Africa and Pakistan
ProductsMobile app
ServicesPublic transport
Websiteswvl.com

Swvl, LLC, stylized as SWVL, is an Egyptian bus vehicle for hire, ride-sharing company based in Cairo, with operations in more than five countries. It operates buses along fixed routes and allows customers to reserve and pay for them using an app.[1]

It was founded in April 2017 by Mostafa Kandil, Ahmed Sabbah, and Mahmoud Noah.[2]

History[edit]

In early 2019, it expanded its operations to Kenya.[3] The company has partnered with BRCK for free wifi in its buses.[4] In the same year, it also expanded to Nigeria.[3]

In June 2019, the company raised US$42 million for its expansion in Africa.[5]

In July 2019, it expanded its operations to Pakistan, starting with Lahore.[3] In September, it expanded its operations to Karachi, and Islamabad.[3] The company announced that it has plans to invest $25 million in Pakistan.[6]

In October 2019, they were briefly banned in Kenya along with other bus-hailing apps due to regulatory issues. The issue was resolved swiftly.[7]

In November 2020, They Launched SWVL business in Amman, Jordan.[8]

References[edit]

  1. ^ "Egyptian tech transport start up Swvl heads to Southeast Asia". November 22, 2018 – via www.reuters.com.
  2. ^ "Egyptian startup Swvl raises $8 million Series A - DiGAME Investment Company". www.digameinvestment.com. Retrieved 2020-12-12.
  3. ^ a b c d "Egyptian firm expands further into Pakistan". DAWN.COM. September 17, 2019.
  4. ^ "Startups BRCK and Swvl partner on free Wi-Fi for Kenyan ride-hail buses".
  5. ^ "Egypt Bus-App Swvl Raises $42 Million for African Expansion". Bloomberg.com. 20 June 2019. Retrieved 22 October 2020. CS1 maint: discouraged parameter (link)
  6. ^ "SWVL to invest $25m to fund in Pakistan". samaa.tv. November 3, 2019.
  7. ^ Dahir, Abdi Latif. "Bus-hailing apps in Kenya are facing their first major regulatory challenge". Quartz Africa.
  8. ^ "SWVL Jets Off to Jordan, Launches 'SWVL Business' in Amman". Startupscene. Retrieved 2020-12-12.