Bus-hailing startup Swvl acquires Mexico-based Urbvan Mobility

EGYPT – Swvl, a provider of tech-enabled mass transit solutions, has announced the acquisition of Mexico-based Urbvan Mobility Ltd, a shared mobility platform that provides tech-enabled transportation services to Latin America’s second biggest country by population. Urbvan provides technology-enabled transportation services with the goal of improving both the quality of life and the safety standards of bus travel over long…

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Egypt’s Swvl expands in Europe with acquisition of Turkey’s Volt Lines

EGYPT – Egypt-based ride-sharing start-up, Swvl has agreed to acquire the Turkish transportation-as-a-service mobility business Volt Lines, as it expands further in Europe. The acquisition, which will see Volt Lines’ team hired by Swvl, is expected to close in the second quarter of 2022. The deal, valued at around US$40 million, gives Swvl access both to Volt Lines’ tech as…

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SWVL enlisted on NASDAQ, sets initial offer price at US$9.95 per share

EGYPT – Mass transit and shared mobility provider, Swvl has officially been listed on the NASDAQ stock market in the New York stock exchange with an initial offer price of US$9.95 per share. The listing follows approval of a merger with special purpose acquisition company (Spac) Queen’s Gambit Growth Capital, the first blank-cheque company led entirely by women, at a…

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Bus-hailing startup Swvl partners Moove for EV buses across MENAP

MENA – Egypt’s on-demand bus-hailing company Swvl has partnered with African fintech mobility startup Moove to scale Moove’s revenue-based vehicle financing model across the MENAP (Middle East, North Africa, and Pakistan) region. The partnership follows Moove’s recent US$105 million series A2 round and will also see the two expand vehicle classes to include electric buses. Starting with an initial rollout…

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Egypt’s Swvl raises additional US$21M funding for its expansion efforts

EGYPT – Egyptian mobility company Swvl has raised an additional US$21.5 million in private investment in public equity (PIPE) deal as part of its proposed business combination with Queen’s Gambit, ahead of its future listing on the Nasdaq exchange. The last PIPE funding was participated in by new investors including the European Bank for Reconstruction and Development (EBRD). The funding…

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Swvl partners various Egyptian banks to fund the provision of 14-passenger vehicles

EGYPT – Swvl, an Egyptian ridehailing startup, has announced a partnership with various Egyptian banks to fund the provision of 14-passenger vehicles to independent drivers working on Swvl’s unfixed transportation routes. This would help young people earn more money while also supporting the state’s efforts in this area. It will also help the transportation sector, which is expanding rapidly. Swvl’s…

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Bus-hailing startup SWVL raises US$35m pre-funding to accelerate its expansion

EGYPT – Swvl, an Egyptian bus-hailing startup, has achieved pre-funding of the total PIPE subscription of US$35.5 million, to accelerate Swvl’s expansion and increase its investment in its patented technological platform. The purchase has been pre-funded by a number of investors, including Agility and Chimera Abu Dhabi. Swvl’s proposed business merger with Queens Gambit Growth Capital is the reason for…

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Bus-hailing startup Swvl acquire controlling stake in mass transit platform Shotl

EGYPT – Swvl, an Egyptian bus-hailing startup, has acquired a controlling stake in Shotl, a Spanish mass transit platform that partners with municipalities and corporations to provide on-demand bus and van services across Europe, LATAM, and APAC. With a presence in 22 cities across 10 countries, including Brazil, Japan, and a pan-European footprint1, over 350,000 bookings to date, more than…

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