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Swvl Holdings Corp (NASDAQ: SWVL) is a leading technology-driven mobility company that aims to enhance mass transit with its innovative and environmentally friendly solutions. Swvl's core business focuses on providing reliable, safe, and cost-effective transportation options through a network of minibuses and other vehicles operating on fixed or semi-fixed routes within urban areas. This service is primarily accessed via the Swvl mobile app, which allows commuters to book rides between pre-defined pick-up and drop-off points throughout the city.
Swvl is not just limited to B2C offerings; it also delivers transformative tech-enabled mass transit solutions on a global scale, encompassing intercity, intracity, B2B, and B2G transportation. These services offer a semi-private alternative to traditional public transportation, particularly for individuals who cannot afford or access private transport. Swvl's platform ensures that mobility is more efficient, accessible, and environmentally friendly, empowering millions to travel safely and conveniently.
Recent achievements highlight Swvl's continuous growth and strategic moves. In July 2023, Swvl received approval from the Nasdaq Stock Market to transfer its listing to the Nasdaq Capital Market, ensuring compliance with financial and corporate governance standards. This move is set to facilitate Swvl's strategic expansions and market positioning.
Moreover, Swvl's strategic sale of Urbvan to Kolors marks a significant step in Swvl's vision for profitable growth. This transaction is expected to accelerate Swvl's expansion plans in high-priority markets, enhancing its global footprint.
Financially, Swvl has reported positive operating cash flow and net profit in the first half of 2023, showcasing the company's robust financial health and growth trajectory. The company has also secured significant contracts with notable corporations such as Holiday Inn Hotel, Siemens in Saudi Arabia, and Bosch in Egypt, further cementing its reputation as a trusted mobility solutions provider.
For more detailed information about Swvl Holdings Corp, visit www.swvl.com.
Swvl Holdings Corp (Nasdaq: SWVL) has announced a collaboration with Saudi Awwal Bank (SAB Bank) to provide last-mile shuttle services in Riyadh, Saudi Arabia. The initiative coincides with the launch of the Riyadh Metro, which began operations on December 1, 2024. The service aims to bridge first- and last-mile connectivity gaps by connecting SAB employees to metro stations through shuttle buses.
The Riyadh Metro network features six lines spanning 176 kilometers with 85 stations, including four main stations. Swvl's proprietary technology integrates virtual stops to facilitate seamless access to metro stations, offering an alternative to private vehicles and supporting the city's urban mobility transformation.
Swvl Holdings Corp (Nasdaq: SWVL) has announced its product relaunch in the United Arab Emirates, securing four major customers. The company offers two main solutions: a full mobility service providing end-to-end transportation management and a SaaS platform for partners with existing fleets. The full service includes fleet management, captain recruitment, and operational support, while the SaaS platform focuses on enhancing efficiency through automation and data-driven reporting. This expansion aligns with UAE's focus on developing world-class infrastructure and smart transit solutions.
Swvl Holdings Corp (Nasdaq: SWVL) has secured a sustainable credit facility with HSBC Bank to finance its expansion of client contracts in Q4 2024. The agreement establishes a broader strategic collaboration aimed at enhancing Swvl's financial operations and sustainable growth. HSBC's role will extend beyond financing to include management of consolidated banking operations across Swvl's markets, focusing on streamlining financial processes and improving cash flow management. This partnership marks a significant milestone for Swvl, highlighting its recent achievements in the enterprise mobility market and supporting its growth initiatives.
Swvl Holdings Corp (Nasdaq: SWVL) has secured a three-year contract with almajal G4S in Saudi Arabia to provide SaaS-based mobility solutions. The agreement covers operations in Riyadh, Jeddah, and Dammam, managing over 14,000 monthly trips. Swvl will deliver a comprehensive SaaS platform designed to enhance G4S's fleet efficiency through route optimization, real-time tracking, and advanced analytics. The solution aims to streamline fleet management operations and achieve significant cost reductions for G4S, providing tools for fleet operators, captains, and riders.
Swvl Holdings Corp (Nasdaq: SWVL) has announced a $4.7 million private placement of ordinary shares priced at $4.79 per share, matching its November 15, 2024 closing price. The agreement includes several board members as investors, with a 6-month lock-up period and subsequent trading restrictions. Investors can only transfer less than 20% of securities per 90-day period, to 20% of the trading volume on sale date. The placement is expected to close around November 18, 2024. Proceeds will fund working capital, corporate purposes, and US operations expansion.
Swvl Holdings Corp (Nasdaq: SWVL) has secured new contracts worth $4.2 million with key clients in Egypt over the past three months. The contracts span across strategic sectors including FMCG, telecom, e-commerce, consumer goods, and banking. The company provides both fully managed services and SaaS-based solutions for various transportation needs, including shift-based transportation for call center agents, workforce transportation, and employee/student commutes. Swvl plans to launch operations in the U.S. next year and is exploring strategic alternatives to secure capital for this expansion.
Swvl Holdings Corp (Nasdaq: SWVL) has announced the launch of its regional headquarters (RHQ) in Riyadh, Saudi Arabia. This strategic move is part of the company's long-term growth and profitability plans in the Gulf Cooperation Council (GCC) region. By participating in Saudi Arabia's RHQ Program, which aligns with the country's Vision 2030 goals, Swvl aims to leverage program incentives and participate in government contract opportunities.
Swvl has been operating in Saudi Arabia for four years, providing technology-driven mobility solutions including fully managed and SaaS-based transportation services for businesses across various industries. The company's CEO, Mostafa Kandil, expressed excitement about contributing to Saudi Arabia's digital transformation goals and reshaping the future of transportation in the Kingdom. Saudi Arabia is currently Swvl's fastest-growing and most profitable market.
Swvl Holdings Corp (Nasdaq: SWVL) has secured $2.6 million in new annual contracts in Saudi Arabia during Q3 2024, representing about 10% of the company's 2023 full-year revenues. This growth has led to a six-fold increase in Swvl's gross profit in Saudi Arabia compared to Q1 2023. The company will provide fully managed services and SaaS-based mobility solutions to partners across various industries in Riyadh, Dammam, Madina, and Jubail.
Swvl's technology aims to improve operational efficiency through process automation and AI-driven routing, while enhancing safety for partners, particularly in the education sector. CEO Mostafa Kandil emphasized the company's commitment to addressing critical mobility challenges and providing innovative solutions that tackle safety concerns in school transportation.
Swvl Holdings Corp (Nasdaq: SWVL) has secured a significant 5-year contract with telecom giant e& Egypt, valued at up to $6.3 million. This strategic agreement aims to strengthen Swvl's presence in the Egyptian market and underscore its leadership in the mobility solutions sector. e& Egypt, a leading telecommunications and IT service provider, operates under the e& Group. The partnership aligns with Swvl's mission to offer innovative and efficient tech-based mobility solutions, aiming to enhance daily commutes in high-density work environments. Swvl's CEO, Mostafa Kandil, emphasizes that this collaboration highlights the trust in Swvl's solutions and supports its path towards profitable growth and sustainable transit industry standards.
Swvl Holdings Corp (Nasdaq: SWVL), a global technology provider for enterprise and government mobility solutions, has announced the successful closure of key sales with Holiday Inn and Siemens in Saudi Arabia, and Bosch in Egypt. This development is part of Swvl’s strategy to resume growth by expanding its client base across the GCC and North Africa, specifically targeting profitable markets such as Saudi Arabia and Egypt. CEO Mostafa Kandil emphasized that these partnerships are important steps towards Swvl's goal of transforming the mobility industry, enhancing efficiency, accessibility, and sustainability. These collaborations affirm Swvl's commitment to profitable growth and strategic business development.
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