Swvl Raises $13 Million Led by Coefficient Backed by the Sawiris Family
Swvl, a Dubai-based mobility solutions company, has secured a private investment of $13 million in publicly traded shares, led by the American investment firm Coefficient LP. Coefficient will invest approximately $10 million, becoming the largest institutional shareholder in Swvl after the deal is completed, while an existing shareholder will invest an additional $3 million. Abdullah Ali, the founder and managing partner at Coefficient, will join Swvl's board of directors. Under the agreement, Swvl will issue 8.99 million Class A shares at a price of $1.446 per share, with the deal expected to close on August 27, 2026, subject to the usual closing conditions. Swvl will use the investment proceeds to accelerate its expansion in the United States, launch lending solutions for operators and transport partners within its network, and strengthen its balance sheet to support a pipeline of multi-year contracts with companies and government entities. Mustafa Qandil founded Swvl, which provides technology-backed mobility solutions and currently operates in Egypt, Saudi Arabia, the UAE, Kuwait, Qatar, the UK, and the US.
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