Egypt-Born Swvl Raises USD 13 M To Expand US Mobility Operations

Egypt-born mobility technology company Swvl has agreed to raise USD 13 M in a private placement led by US investment firm Coefficient, which is investing USD 10 M and will become Swvl’s largest institutional shareholder.

An existing shareholder is contributing a further USD 3 M. Founded in Cairo back in 2017 by Mostafa Kandil as a bus-hailing startup and now headquartered in Dubai, UAE, Swvl currently provides technology-driven transportation solutions for enterprises and governments.

Swvl reported 68% year-on-year revenue growth to USD 8.2 M in Q1 2026, while GCC revenue grew 111% and operating expenses fell to 23% of revenue. The funding will support its US expansion, a lending product for transport operators and balance-sheet strengthening. Coefficient founder Abdalla Ali will join Swvl’s board.