Swvl, the Cairo-born mobility company now based in Dubai, has agreed to raise $13M in a private placement led by US investment firm Coefficient.
Coefficient is investing $10M and will become Swvl’s largest institutional shareholder, with an existing shareholder contributing a further $3M. Coefficient founder Abdalla Ali will join the board.
The company reported 68% year-on-year revenue growth to $8.2M in Q1 2026, with GCC revenue up 111% and operating expenses down to 23% of revenue.
The funding will support Swvl’s US expansion, a new lending product for transport operators and balance-sheet strengthening as the Nasdaq-listed firm pivots from consumer bus-hailing toward enterprise and government mobility contracts.
Founded in 2017 by Mostafa Kandil, Swvl now provides technology-driven transportation solutions for organizations across the Middle East, Africa and the US.
