Egyptian smart mobility company Swvl has raised $13M through a private placement led by US investment firm Coefficient LP, which is backed by the Sawiris family. The company said it will use the funding to accelerate its expansion in the US and launch lending products for transport operators in its network.
Coefficient LP contributed $10M, while an existing shareholder provided additional capital. Swvl issued around 9 million shares at $1.446 per share, in line with Nasdaq market rules, according to the announcement.
Founded in Egypt and now managed from the UAE, Swvl provides transport solutions to businesses and governments across markets including Egypt, Kuwait and the UAE.
The company reported an overall 68% year-on-year increase in first-quarter 2026 revenue to $8.2M. Revenue from the Gulf Cooperation Council region grew 111%, while recurring revenue accounted for 88% of the total. Dollar-linked revenue reached 44% of total revenue, and operating expenses declined to 23% of revenue.
Swvl said the new capital will also support financial products for transport operators and strengthen its ability to serve a growing portfolio of multiyear contracts with corporate and government customers.
Source: Mubasher
