Swvl Holdings Corp said it secured a $13 million private placement led by Coefficient LP, a Houston-based firm backed by Egypt’s Sawiris family, with an existing investor contributing an additional $3 million.
The transaction values 8,990,317 Class A shares at $1.446 each, with closing expected on August 27, 2026, pending customary conditions. Upon completion, Coefficient will become Swvl’s largest institutional shareholder.
Swvl reported first-quarter 2026 revenue of $8.2 million, up 68% year-over-year, driven by a 111% surge in Gulf Cooperation Council revenue. Operating expenses stood at 23% of revenue for the quarter.
The proceeds will fund U.S. expansion, a lending program for transport partners, and balance sheet strengthening to support multi-year enterprise and government contracts. Founder and CEO Mostafa Kandil said the investment marks the start of Swvl’s U.S. market entry.
Abdalla Ali, Founder and Managing Partner of Coefficient and incoming Swvl board member, will oversee the investment. The shares are being issued under Section 4(a)(2) of the Securities Act of 1933 and remain unregistered, with Swvl committing to file a resale registration statement.
Swvl operates mobility platforms for enterprises and governments in Egypt, Saudi Arabia, UAE, Kuwait, Qatar, the UK, and the U.S.
