Swvl $13M PIPE Led by Sawiris-Backed Coefficient LP
Dubai-headquartered mobility company Swvl has secured a $13 million private investment in public equity (PIPE). The round was led by U.S. investment firm Coefficient LP, which is backed by Egypt’s Sawiris family. The terms of the remaining investment or a post-money valuation were not disclosed.
Coefficient will invest $10 million, making it Swvl’s largest institutional shareholder upon closing. An existing Swvl shareholder is deepening its position with the remaining $3 million.
Coefficient founder and managing partner Abdalla Ali will join Swvl’s board of directors as part of the agreement. The transaction is expected to close on 27 August 2026.
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Founded by Mostafa Kandil, Swvl provides technology-driven mobility services to enterprises and governments. The company currently operates across Egypt, Saudi Arabia, the UAE, Kuwait, Qatar, the UK, and the United States.
Swvl intends to use the proceeds to accelerate its U.S. expansion, launch a lending offering for its network of transport operators and partners, and strengthen its balance sheet to support a growing pipeline of multi-year enterprise and government contracts.
The raise follows accelerating performance: Q1 2026 revenue grew 68% year-over-year to $8.2 million, with GCC revenue up 111% and 88% of total revenue coming from recurring streams.
"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 Chief Executive Officer of Swvl.
"Mobilising humanity — to work, to school, to healthcare, to opportunity — remains one of the last major operations still run manually," added Abdalla Ali of Coefficient.
"Swvl turns moving people into intelligent, managed infrastructure. It does this not by adding fleets or concrete but with AI and orchestration that make existing capacity smarter."
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