Wednesday, July 30, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Middle East and Africa

Swvl, an Egyptian mobility company, has gone public on the Nasdaq exchange

Tech Gist Africa by Tech Gist Africa
04/06/2022
in Middle East and Africa, Mobility, News - Middle East And North Africa, Stock
0 0
0
Swvl

Swvl

0
SHARES
Share on FacebookShare on Twitter

Swvl, an Egyptian mobility company, has started trading on the NASDAQ stock exchange in the United States, with an initial offer price of US$9.95 per share. 

Swvl is a mass-transit system founded by Mostafa Kandil in 2017 that allows riders travelling in the same direction to share a van or bus ride. 

Swvl completed its Nasdaq listing last week, with Kandil ringing the opening bell at the Nasdaq MarketSite in New York City’s Times Square to mark the occasion. In February, Swvl entered into agreements for an additional US$21.5 million in PIPE funding with new investors, including the European Bank for Reconstruction and Development (EBRD). 

The company’s innovative mobility solutions are assisting in the resolution of mass transit supply and demand difficulties in emerging regions, providing dependable, convenient, safe, and affordable transportation to underserved communities. 

The total estimated proceeds from the offering are US$640 million, with US$160 million in immediate cash and US$480 million in the coming weeks assuming certain closing conditions are completed. 

The company is one of Africa’s best-funded, and it already operates in 16 nations. Its gross income and market share have exploded, with over 1.4 million riders booking over 46 million trips on its platform and thousands of drivers, and it has made three acquisitions. 

On Friday, the stock rose as much as 9.8% to US$10.30.

 

Read more on Tech Gist Africa:

Chari, a Moroccan B2B eCommerce startup, has acquired AXA Credit for $22 million

Super app for Egyptian financial services Lucky has secured a $25 million Series A round of funding

Naqla, an Egyptian logistics startup, has raised $10.5 million in a pre-Series A funding round.

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

Aria Ventures Egypt
Investments

Aria Ventures Launches $1 Million Fund to Boost Deep‑Tech Investment in Egypt

by Tech Gist Africa
07/10/2025
0

Cairo‑based venture studio Aria Ventures has unveiled a new investment fund totaling USD 1 million (EGP 50 million), dedicated to supporting early-stage deep‑technology...

Read more
Talenteo Algeria

Talenteo, an Algerian HR-tech startup Raises Six-Figure Funding Round

07/08/2025
Winich Farms Nigeria

Winich Farms, a Nigerian agri‑fintech startup raises Pre‑Series A Funding

07/08/2025
Octane Egypt

Octane, an Egyptian logistics and mobility startup, raises $5.2 million in seed funding

07/08/2025
DHL Group

DHL Group to Invest $575 Million in Healthcare and Logistics Expansion Across Africa and the Middle East

06/15/2025
Next Post
AWIEF Awards 2021

AWIEF launches a USAID-funded program, Enhanced Small Medium Enterprises Investment and Export Readiness Through a Digital Platform. 

Mobile Money

Mobile Money Industry Processes Record $1 Trillion in 2021

Gupshup Active.Ai Singapore

Gupshup acquires Active.Ai in all-cash deal

No Result
View All Result

The Big 5

Innovation Hub

Corporate Innovation: How Major Companies are Fostering a Culture of Disruption

by Tech Gist Africa
07/28/2025
0

...

Africa Tech

Tech Diplomacy: How Africa is Leveraging Technology for International Relations and Development

by Tech Gist Africa
07/21/2025
0

...

Media and Entertainment

How African Technology is Changing the Face of Media, Entertainment, and Digital Content

by Tech Gist Africa
07/14/2025
0

...

Ecobank

Ecobank, Google Partner to Boost Financial Inclusion and Innovation Across Africa

by Tech Gist Africa
07/08/2025
0

...

AWIEF

AWIEF 2025 Awards Nominations Now Open to Celebrate Africa’s Top Women Entrepreneurs

by Tech Gist Africa
07/08/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.