Grace Ashiru
Mobility technology company Swvl Holdings Corp. (Nasdaq: SWVL) has announced strategic private placements totaling approximately $14.5 million, providing fresh capital to support its expansion in the United States and strengthen its financial position.
The financing initially consisted of a $13 million private placement led by Houston-based investment firm Coefficient LP, which is backed by Egypt’s Sawiris family. Coefficient committed $10 million, while an existing Swvl shareholder agreed to invest an additional $3 million. Upon completion of the transaction, Coefficient is expected to become Swvl’s largest institutional shareholder.
Under the $13 million agreement, Swvl plans to issue 8,990,317 Class A shares at $1.446 per share. Abdalla Ali, founder and managing partner of Coefficient, is also set to join Swvl’s board of directors as part of the investment.
A day after announcing that agreement, Swvl disclosed another $1.5 million private placement with Sofico Holdings Limited, increasing the overall strategic investment round to approximately $14.5 million. Sofico agreed to acquire shares at $1.46 each, with the additional transaction expected to close on or around August 28, subject to customary conditions.
Swvl plans to use proceeds from the financing to accelerate its US operations, introduce a lending offering for transport operators and partners, and reinforce its balance sheet as it pursues multi-year enterprise and government contracts.
The financing comes as Swvl reports stronger operating performance. Revenue reached $8.2 million in the first quarter of 2026, representing growth of about 68% year-on-year, while GCC revenue increased by 111%. Recurring revenue accounted for 88% of total revenue, according to the company.
Swvl, which provides technology-enabled transportation solutions to enterprises and governments, currently operates across markets including Egypt, Saudi Arabia, the UAE, Kuwait, Qatar, the UK and the United States.
Note: Swvl announced definitive agreements for these investments and stated expected closing dates. I cannot confirm from the available official disclosures that both placements have completed as of August 28, 2026.
