Dubai-headquartered mobility technology company Swvl has secured a $13 million private investment in public equity (PIPE) led by Houston-based investment firm Coefficient LP, as the Nasdaq-listed company prepares to accelerate its expansion into the U.S. market.
Coefficient, which is backed by Egypt’s Sawiris family, will invest $10 million and become Swvl’s largest institutional shareholder upon closing. An existing Swvl shareholder will contribute the remaining $3 million, while Abdalla Ali, Founder and Managing Partner of Coefficient, will join Swvl’s Board of Directors.
Under the agreement, Swvl will issue 8.99 million Class A shares at $1.446 per share. The transaction is expected to close on August 27, 2026, subject to customary closing conditions.
A New Chapter For Swvl’s Global Expansion
The investment comes as Swvl reports accelerating financial performance. In the first quarter of 2026, the company generated $8.2 million in revenue, representing 68% year-over-year growth, while GCC revenue increased 111%.
Recurring revenue accounted for 88% of total revenue, with net dollar retention reaching 114%. Meanwhile, operating expenses fell to 23% of revenue as the company moves closer to operating breakeven.
Swvl plans to use the new capital to accelerate its U.S. expansion, launch a lending offering for transport operators and partners within its network, and strengthen its balance sheet as it pursues a growing pipeline of multi-year enterprise and government contracts.
“We view this investment as powering Swvl’s next chapter, cutting the ribbon on the U.S. market as we have just started our U.S. operations,” said Mostafa Kandil, Founder and CEO of Swvl.
From Moving People To Managing Mobility Infrastructure
Founded by Kandil, Swvl has evolved into a technology-driven mobility provider serving enterprises and governments across Egypt, Saudi Arabia, the UAE, Kuwait, Qatar, the UK and the U.S.
The company is betting that its enterprise-first model can scale by using technology and AI-driven orchestration to make existing transportation capacity more efficient rather than relying solely on adding new fleets.
“AI is transforming how the world’s systems move information. But mass transportation, the system that moves people, has lagged behind in most cities around the world,” said Abdalla Ali, Founder and Managing Partner of Coefficient. “Swvl turns moving people into intelligent, managed infrastructure.”
The investment also brings Swvl closer to the Sawiris family’s global investment network. Onsi Sawiris said the family was backing the company for the long term, citing Swvl’s growth across seven countries and its disciplined approach to building a global technology business.
For Swvl, the $13 million PIPE represents more than additional capital. As the company enters the U.S. and explores new financial services for its transport network, the investment strengthens its balance sheet while adding an institutional partner with deep roots across both the U.S. and Middle Eastern markets.
The next chapter for Swvl is now centered on a larger ambition: taking a mobility platform built across emerging markets and scaling it into one of the world’s biggest transportation markets.
