This archive report was first published on 29 August 2019.
On August 29, 2019, SWVL, a shuttle-hailing firm with operations in Egypt and Nairobi, announced plans to pump $15 million (KES 1.5 billion) into its Kenyan operations to improve its current operations and scale into other towns and routes.
SWVL is expanding globally and is set to launch its global headquarters in Dubai. The company is also hiring for the position of a global launcher to help establish Swvl’s footprint across multiple continents, countries, cities, and verticals.
Since its launch in Kenya in February 2019, SWVL has signed up more than 55 routes, exceeding the initial four routes. The company is set to start operations outside the capital city.
According to Shivachi Muleji, SWVL General Manager for Kenya, the company aims to fill a gap in the market by providing a convenient and affordable transportation solution that matches the capacity of the traditional matatu industry.
SWVL recently closed its $42 million Series B-2 funding, increasing its valuation to $150 million. The company’s CEO, Mostafa Kandil, expressed excitement about providing a solution that makes the lives of Kenyans easier while benefiting the Kenyan transport sector.
