He pointed out that Swvl intends to continue its foreign expansions, targeting the markets of South America, Europe and Southeast Asia.
The company, which provides smart mass transit services in more than twenty countries worldwide, seeks to use the proceeds of the offering to implement an expansion plan that includes access to new markets as well as to deepen its services in existing markets.
“Swvl” and “Queens Gambit” entered into an agreement to merge the business to become through “Swvl” the first company in the Middle East with an estimated value of more than $1 billion to be listed on the Nasdaq Stock Exchange under the symbol (SWVL).
SWVL stated, that as soon as the breach was discovered, the information technology team dealt with it.
Egyptian transport technology start-up Swvl will expand into two cities in Pakistan in the next two weeks.
Egypt’s flourishing entrepreneurship scene has been receiving support from governmental entities and private institutions which aid entrepreneurs to reach their maximum potential by offering fund opportunities and mentorship.
Mostafa Kandil, Co-founder and CEO of Swvl, SWVL, received the bt100 crystal award on behalf of SWVL for their leading mass transportation solutions in private sector.
Egyptian transport tech start-up Swvl will expand into Southeast Asia next year after securing what the company said was the biggest round of funding for a tech start up in Egypt.
Swvl succeeded in attracting a fund worth $8.5 million, of which $8 million was collected in April 2018.
Launched in March 2017, the bus service SWVL is revolutionizing daily commutes.
Careem has invested around $10 million since its services opened in Egypt. The firm achieves 30 percent growth rate per month.