Swvl
Swvl is a global provider of transformative tech-enabled mass transit solutions that enhance mass transit safety, reliability, and convenience in some of the world’s most challenging and complex emerging markets. Swvl is uniquely positioned to capitalize on the $1tn global mass transit market opportunity with daily commuting, inter-city travel, TaaS, and SaaS transportation solutions. Swvl currently operates in 115 cities in 18 countries across Latin America, Europe, Africa, and Asia. The differentiated proprietary technology stack features dynamic routing of high capacity vehicles allowing unprecedented vehicle utilization and earnings levels for drivers and massively reduced walk to station distances and prices for riders.
With a track record of exponential growth, Swvl achieved annual gross revenue growth of 430% over the past four years. More than 2 million riders to date have booked more than 75 million rides with more than 20 thousand drivers on Swvl’s platform. TaaS offerings have grown gross revenue per client by 4x with > 100% revenue retention over the past two years. Swvl has undergone rapid geographic expansion, including a launch into Europe and Latin America one year ahead of schedule through the recent acquisitions of Shotl and Viapool.
Swvl recently entered into a business combination with Queen’s Gambit Growth Capital. Implied, fully diluted equity value is $1.5bn, including an upsized PIPE of $122.5m, of which $65.5mn has been pre-funded to accelerate the company’s growth plans. Swvl is the first $1bn+ unicorn from the region to list on NASDAQ and the first mass transit solutions company on any exchange. The PIPE was led by strategic and financial investors, including Agility, Luxor Capital, Zain, EBRD, and Chimera.
Founded on strong ESG principles, Swvl advances social and economic equity while reducing more than 15 million person-hours congestion. Since its inception, the platform has prevented more than 250 million pounds of Co2 emissions.
