Egypt: Swvl revolutionizes public transportation by leveraging digital technologies

By : Adoni Conrad Quenum

Date : vendredi, 17 mars 2023 12:05

Listed on the Nasdaq, it is undoubtedly one of the most important South African mobility startups. 

Swvl is an e-mobility solution developed by an eponymous Egyptian start-up. It allows users to easily run their errands with round-the-clock rides.  Based in Cairo, the startup behind the app was founded in 2017 by Mostafa Kandil, Ahmed Sabbah, Mahmoud Nouh, and Rafael Coronel. 

Since its inception, it has raised about $264 million to accelerate its growth in Africa, Asia, Europe, and Latin America. It describes itself as a "tech-driven, affordable, and convenient transportation service, committed to enabling cities, people, and businesses to move everywhere.

Through its mobile app available for iOS, Android, and Huawei devices, users can create an account and book the many bus or van routes available to get to work, an appointment, or run errands.

The app presents the most frequented routes and users only have to choose the ones on their way. They can also combine routes if there are no straight routes to their destinations. 

Since 2022, Swvl is experiencing rapid growth. After consecutive fundraisings, it is launched in 115 cities in 18 countries on four continents. The Android version of its app has been downloaded more than 10 million times. It claims more than 75 million rides booked and more than 20,000 drivers.  In 2022, the startup got listed on Nasdaq, the second largest stock exchange in the U.S., with an IPO price of $9.95 per share.

Adoni Conrad Quenum


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