“Swvl” think huge investments in the Egyptian market during the 3 years

Company intends to Swvl, one of the leading applications in solving the crisis of public transport in the Middle East, huge investments worth 300 million pounds in the Egyptian market during the next three years, with the aim of providing the largest number of jobs for micro-entrepreneurs “bus owners and entrepreneurs” in Egypt.

It was announced Mustafa qandil, co-founder and CEO, Swvl, the company’s success in attracting a range of local and international investors by touring two of the largest rounds of funding to purchase technology emerging in the Middle East and Egypt, noting that the company succeeded in attracting investments worth US $ 8.5 million, of which $ 8 million was collected in April.

Participated in this tour company beco وDigame Fund funding “SILICON BADIA” and the Fund of Oman for the technology area venture capital and standards Dyson the head of the company ever.

Noted qandil in a press statement, that the financing obtained by the company will announce its position in the Egyptian market, pointing out that the company is working to provide the service of smart mobility at affordable prices, providing a specific itinerary fare fixed is cheaper 80% of the services the summons request.

Founded the company Swvl three of the entrepreneurs are Mustafa qandil, co-founder and Chief Executive Officer of the company, and of Noah, partner, founder and Director of operations, Ahmed Al Sabah, partner, founder and Director of the technology sector, witness the strong team owns the experiences of companies cream Google and aweber were compared by rocket internet and the delievry hero.

Said Mahmoud Noah, partner, founder and Director of operations, the company is betting on its success in the rapid spread in the Egyptian market, including its team possesses significant experience, pointing to Swvl plans to expand outside Egypt, especially in the emerging markets in the Middle East and South-East Asia and Africa by 2018.

Joined Esther Dyson -Chairman of the company ever – which worked earlier also as soon as the Department Yandex-author of a joint venture with uber, Russia, Uber Russia, and to the Board of Directors of the company Swvl on behalf of DiGAME, in addition to join Dany farha, Executive Director and co-founder and co-CEO of BECO Capital and co-founder for the house.Com.

Added Noah that the company seeks to expand in major cities that lacked the infrastructure for public transport, pointing out that the reports of the United Nations indicate that by 2030, will be 60% of the population of the planet in the cities, thus creating a demand not known in advance the services of the development, and the economic worth of 5.4 trillion dollars.

In a related context, explained Ahmed Sabah, a partner and founder and Director of the technology sector, that the application has been implemented to solve the problem of double on the demand side, saying: “there are nearly 25 million citizens take advantage of transportation daily in Egypt and led the economic conditions of the special session in Egypt to reduce the purchasing power of the middle class to reduce the chances of an unstable peace with the accepted ideas of the new transport guide success aweber and cream”.

He added that the app meets the needs of consumers seeking solutions and means of purifying more comprehensive and less expensive, noting that the company has been able in less than a year to implement hundreds of thousands of rounds a month with hundreds of buses in its network which extends to about 200 line in Cairo and Alexandria.

Noteworthy to Swvl working to provide mobility solutions to new and re-design of public transport outside of Cairo and Alexandria, the application of this system in other emerging markets, and its customers are a mix of college students and corporate employees with a large portion of women, who want to avoid harassment in public transport.

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