The story continues for one of Egypt's biggest entrepreneurial stories as the startup moves into its sixth market.
The Cairo-founded Dubai-based global transit tech company, Swvl, has launched its operations in Saudi Arabia. Its expansion into the kingdom drives up its market presence to six countries, following its success in nine major cities across the MENAP region, in Egypt, Kenya, Pakistan, Jordan, and the UAE.
Since its founding in 2017 by Mostafa Kandil, Ahmed Sabbah, and Mahmoud Nouh, Swvl’s fixed rate booking system has been met with major market success and the company relocated its headquarters to Dubai after raising investments of $175 million.
The tech startup has grown into one of the most dynamic regional transit companies with its services for mass and employee transportation, as well as its customised routes and destination in accordance with requirements of different companies. Beyond personal and individual trips, over 100 companies in a host of sectors rely on the startup’s transportation services that centre safety and quality through state-of-the-art technology.
Swvl’s operations have been credited with allowing organisations and companies to reduce travel costs worth up to 25% by reducing the number of miles travelled and vehicles used, as well as by optimising routes using network planning from artificial intelligence (AI) analytics.
Alexandre Epure, Swvl’s Regional Sales Director, expressed excitement about the company’s entrance into the Saudi market, hailing its progress in reducing traffic and pollution through its entirely data-based transportation solutions.
The expansion also aligns with the Saudi government’s Vision 2030 transformation project.