PIPE · Mobility
Swvl agrees approximately $13m PIPE for its next US expansion phase
The mobility company is adding a US-based strategic shareholder as its enterprise transport business grows.
A new shareholder and board voice
Coefficient committed $10 million through its Swvl investment vehicle, alongside HITE Hedge Asset Management. The agreement provides for Coefficient founder Abdalla Ali to join the board; closing was expected on August 27, subject to customary conditions.
Enterprise business gains weight
Swvl reported that recurring business accounted for 88% of first-quarter revenue. Its customers include employers and public institutions buying managed transport services, making multi-year contracts central to the next phase.
Use of funds
Expand US operations
Launch lending for transport operators and partners
Strengthen the balance sheet for enterprise and government contracts
Funding history
PIPE · This round~$13M