Swvl Secures $13 Million From Sawiris-Backed Coefficient

Swvl Holdings Corp, the Dubai-headquartered mobility company, has raised $13 million through a private investment in public equity, or PIPE, led by Coefficient LP. Coefficient is a U.S. investment firm based in Houston, Texas, backed by the Sawiris family of Cairo. It will contribute $10 million, becoming Swvl's largest institutional shareholder once the transaction closes. An existing Swvl shareholder, described as deepening its position, will put in the remaining $3 million.

Under the agreement, Swvl will issue roughly 8.99 million Class A shares at $1.446 each. The deal is expected to close on 27 August 2026, subject to customary closing conditions. Abdalla Ali, Coefficient's founder and managing partner, will join Swvl's board.

Swvl plans to use the proceeds to accelerate its expansion in the United States, launch a lending offering for transport operators and partners in its network, and strengthen its balance sheet in support of multi-year enterprise and government contracts.

Founded by Mostafa Kandil, Swvl operates technology-driven mobility services for enterprises and governments. It currently operates across Egypt, Saudi Arabia, the UAE, Kuwait, Qatar, the UK and the US.

The financing follows a strong first quarter. Swvl reported revenue of $8.2 million for Q1 2026, up 68% year over year. GCC revenue increased 111%. Recurring revenue accounted for 88% of the total, net dollar retention was 114%, and dollar-pegged revenue rose to 44% of total revenue. Operating expenses fell to 23% of revenue, putting the company near operating breakeven.

Kandil, Swvl's founder and chief executive, said the investment powers Swvl's next chapter and arrives as the company has just begun operations in the US. He pointed to the revenue growth and the lower expense ratio as evidence that Swvl's enterprise-first model can scale profitably. With partners rooted in the US and in Swvl's existing markets, and with Ali joining the board, Kandil said Swvl has the capital, alignment and reach to enter its largest market yet.

Onsi Sawiris said his family has always backed builders, investing for the long term in founders whose businesses can compound for decades. He described Swvl as a disciplined technology operator serving enterprises and governments across seven countries, and said the business model and expected expansion give the company a promising foundation.

Ali said mass transportation still runs manually in most cities, in contrast with how artificial intelligence has changed the movement of information. He described Swvl as turning passenger movement into intelligent, managed infrastructure by using AI and orchestration to make existing capacity smarter, rather than adding fleets or concrete. He also credited Kandil's track record and said he looks forward to building Swvl's American business and widening the reach of its mission.

The shares are being sold in a private placement under Section 4(a)(2) of the Securities Act and Regulation D, so they have not been registered under the Securities Act or applicable state securities laws. Swvl has agreed to file a resale registration statement covering the shares issued to Coefficient.