Swvl Secures $13 Million PIPE for U.S. Expansion as Q1 Revenue Jumps 68%
Updated
Updated · Yahoo Finance · Aug 25
Swvl Secures $13 Million PIPE for U.S. Expansion as Q1 Revenue Jumps 68%
1 articles · Updated · Yahoo Finance · Aug 25
Summary
$13 million in new funding will go to Swvl’s U.S. expansion, a lending product for transport operators, and balance-sheet support, with the private placement expected to close on Aug. 27.
Coefficient LP is investing $10 million and will become Swvl’s largest institutional shareholder at closing; an existing shareholder is adding $3 million, and Coefficient founder Abdalla Ali will join the board.
8,990,317 Class A shares will be issued at $1.446 each in the at-the-market Nasdaq-compliant deal.
Q1 2026 results helped underpin the raise: revenue reached $8.2 million, up 68% year over year, while GCC revenue rose 111% and operating expenses fell to 23% of revenue.
Swvl said the capital supports a push into what it called its largest market yet as it builds on multi-year enterprise and government contract demand.