News & Events zu Swvl Holdings Corp (SWVL)SWVLSwvl Holdings Corp

Swvl Holdings Launches 24/7 Shuttle Service in Madinah, Saudi Arabia

Swvl Holdings announced the launch of a 24/7 shuttle service connecting seven hotels in Madinah, Kingdom of Saudi Arabia, to Al-Masjid an-Nabawi and the city's most visited sites. This launch marks Swvl's entry into Madinah. Pursuant to the agreement between the Company and its Client, Swvl will operate a shuttle network connecting the seven participating hotels in Madinah to Al-Masjid an-Nabawi and the city's most visited sites.

Swvl Holdings Enters Agreement to Purchase $1.5M Shares from Sofico

Swvl Holdings announced its entry into a definitive agreement with Sofico Holdings to purchase $1.5M of ordinary shares in a private placement, at a purchase price of $1.46 per share. The offering is expected to close on or about August 28. Sofico's investment in the offering, together with the private placement offering previously announced on August 25, brings the company's strategic investment round to approximately $14.5M.

Swvl Holdings Completes $13 Million PIPE Financing

Swvl Holdings announced that it has entered into a definitive securities purchase agreement for a $13 million private placement ("PIPE") led by Coefficient LP , a U.S. investment firm headquartered in Houston, Texas, which is backed by the Sawiris family of Cairo, Egypt. Coefficient has agreed to invest $10 million in the PIPE offering. Upon closing, Coefficient will become Swvl's largest institutional shareholder. The round also includes a $3 million investment from an existing shareholder of Swvl that is deepening its position. In connection with the investment, Abdalla Ali, Founder and Managing Partner of Coefficient, will join Swvl's Board of Directors. Under the terms of the agreement, Swvl will issue 8,990,317 Class A shares at a purchase price of $1.446 per share. Swvl intends to use the net proceeds from the offering to accelerate Swvl's expansion in the United States; to kickstart its lending offering for the transport operators and partners in its network; and to strengthen the balance sheet to support the Company's growing pipeline of multi-year enterprise and government contracts.