6 years ago

Swvl Secures $42 Million to Expand Bus Booking Service Across Africa

  • Swvl, an Egyptian app for booking buses, has raised $42 million from venture capital firms including Sweden’s Vostok, Dubai-based BECO Capital, China’s MSA and Endeavor Catalyst, based in New York

  • The funding will be used to expand Swvl's operations to other parts of Africa, including Nigeria

  • Swvl carries hundreds of thousands of customers each month and aims to be in at least two or three more African cities by the end of the year

  • The company targets the middle and upper-middle class, offering a more convenient and reliable transportation option than public buses.

      • ProblemTransportation

      "In emerging markets, public buses are often unreliable and dangerous, and taxis are expensive. This leaves a gap in the market for affordable, convenient transportation for the middle and upper-middle class."

      Solution

      "Swvl is a mobile app that allows users to book bus rides at a lower cost than taxis, but with more convenience and reliability than public buses."

      Covered on