Swvl has secured $13M led by Sawiris-backed Coefficient to accelerate its Swvl US expansion, launch transport lending, and scale its enterprise mobility platform.
Coefficient will invest $10 million in the financing, while an existing Swvl shareholder will contribute a further $3 million. Following the transaction, Coefficient is expected to become Swvl’s largest institutional shareholder. Its Founder and Managing Partner, Abdalla Ali, will join Swvl’s Board of Directors.
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The transaction is expected to close on August 27, 2026, subject to customary closing conditions.
Strategic Goals for Swvl US Expansion
Swvl, founded by Mostafa Kandil, provides technology-driven mobility solutions for enterprises and governments. The company plans to use the new capital to scale its operations in the United States and launch a lending offering for transport operators within its network. Furthermore, the funding will strengthen its balance sheet as it pursues a growing pipeline of multi-year enterprise contracts.
The investment arrives as Swvl reports stronger operating performance. During the first quarter of 2026, revenue increased 68% year-on-year to $8.2 million, while revenue from the Gulf Cooperation Council (GCC) rose 111%.
Operating Performance and Growth
Recurring revenue accounted for 88% of total revenue, while net dollar retention reached 114%. Dollar-pegged revenue also increased to 44% of total revenue. Simultaneously, operating expenses declined to 23% of revenue, as the company moved closer to operating break-even.
Swvl stated its expansion into the US is now a key priority as it seeks to replicate its enterprise-focused mobility model in its largest potential market.
“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 CEO of Swvl.
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Kandil noted that the company's first-quarter performance demonstrates that its enterprise-first model can scale while maintaining greater operating discipline.
Deepening Investor Connections
The new investment deepens Swvl's connection to the Sawiris family. The family backs Coefficient, and this investment grants the firm a larger institutional position in the mobility technology company.
Onsi Sawiris stated the family was backing Swvl because of its technology-driven operating model and its potential to build a global business. For Coefficient, the investment reflects its focus on technology that can improve how transportation systems operate.
“Swvl turns moving people into intelligent, managed infrastructure,” said Abdalla Ali, Founder and Managing Partner of Coefficient.
Ali added that Swvl's technology can make existing transportation capacity more efficient through AI and orchestration without requiring companies to build additional physical infrastructure.
Global Mobility and Market Transition
Swvl's latest financing marks another step in the company's transition from a MENA-founded mobility startup into a global technology business. The company already operates across seven countries, serving enterprises and government organizations through its platform.
The US expansion acts as a significant test of whether Swvl can transfer the operating model it developed across emerging markets into a highly competitive mobility market. The company is also seeking to build additional financial services around its mobility ecosystem through its planned lending offering.
Why It Matters to MENA
Swvl's latest investment highlights the growing ability of MENA-founded technology companies to attract international capital and pursue global expansion. The participation of a Sawiris-backed US investment firm is also notable for the continued role of regional capital in supporting companies with ambitions beyond the Middle East.
The company's progress could offer a broader signal to MENA startups: building for regional needs can provide the foundation for competing in global markets, particularly when technology and scalable business models are at the core of the company.
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