Swvl Continues Rapid Geographic Expansion and Launch of New Services Across 115 Cities in 18 Countries Expansion across Europe, Latin America, Asia, and Africa provides significant upside to Swvl’s current business plan and financial projections > 240 institutional clients including Hapag-Lloyd, Alibaba, Santander, Unilever, Bayer, Mondelez, SAP, Nestle, Siemens, Carrefour, and Stellantis Achieved 5% reduction in cost, 10% fewer vehicles, and 90% customer satisfaction for AXA and 20% increase in on-time accuracy, 95% fleet utilization, and 80% reduction in manual activities for Etisalat January [X] 2022 – Swvl Inc. (“Swvl” or the “Company”), a global provider of transformative tech-enabled mass transit solutions, today announced that the Company has exceeded an important milestone in its rapid geographic expansion with a footprint of 115 cities across 18 countries on 4 continents. In doing so, Swvl has significantly outperformed its current business plan and financial projections. The Company continues to grow its suite of services, which include intercity and intracity B2C, B2B, and B2G transportation offerings, as well as Transportation as a Service and Software as a Service capabilities, which Swvl provides to more than 240 active institutional clients.Mostafa Kandil, Swvl Founder and CEO, said, “We have significantly exceeded our financial and operational projections, and will continue to execute against our strategic growth plan. With acquisitions of controlling stakes in mass transit platforms Shotl and Viapool, as well as organic expansions across new and existing geographies, we have established a strong foundational presence across Europe and Latin America, building on our leadership position in Africa and South Asia. Our growing scale is indicative of the increasing demand for Swvl’s offerings. We look forward to continuing our global disruption of mass transit by empowering underserved communities with seamless mobility solutions that cover a diverse array of use cases.”
The Swvl platform delivers compelling benefits to daily riders and corporate clients by providing a seamless commuting experience that is safer, more reliable and convenient than existing public transportation, and far more affordable than private ride hailing alternatives.The Company’s transformational impact in improving mass transit for millions of individuals worldwide is demonstrated through an exceptional rider experience and countless testimonials, a selection of which is provided below:
station. The best thing about my daily Swvl rides are the two friends I have made on the bus. My goal by the end of the year is to open up my own private business as a hair stylist, and Swvl is empowering me to get there.” – Sylvia, a daily rider
Youssef Salem, Swvl CFO, said, “We are humbled by the feedback that we regularly receive from our valued riders and corporate clients. By solving unmet transportation needs in many of the world’s emerging markets, we are working tirelessly to enable countless individuals to realize greater social and economic equity. We are also deeply gratified to serve as a trusted partner to our corporate clients, providing customized solutions that cater to their specific needs. As a mission-driven company, we are entirely focused on sustainable growth and making a profound impact in the localities in which we operate. The testimonials we’ve shared today reflect some of the ways in which Swvl improves the day- to-day lives of so many individuals while creating value for shareholders and all stakeholders.”
Swvl’s optimized routes and fleet mix achieves greater utilization and lowers costs, while its real-time tracking capabilities and 24/7 support provide greater insight into efficiency while ensuring high-quality rider experiences, demonstrated through numerous case studies, a selection of which is provided below:
Leveraging the Swvl platform, AXA achieved a 5% reduction in cost using 10% fewer vehicles, with 90% customer satisfaction.
Swvl is a global provider of transformative tech-enabled mass transit solutions, offering intercity, intracity, B2B and B2G transportation. The Company’s platform provides semi-private alternatives to public transportation for individuals who cannot access or afford private options. Every day, Swvl’s parallel mass transit systems are empowering individuals to go where they want, when they want – making mobility safer, more efficient, accessible and environmentally friendly. Customers can book their rides on an easy- to-use proprietary app with varied payment options and 24 / 7 access to high-quality private buses and vans that operate according to fixed routes, stations, times, and prices.Swvl was co-founded by Mostafa Kandil, who began his career at Rocket Internet, where he launched the car sales platform Carmudi in the Philippines, which became the largest car classifieds company in the country in just six months. He then served as Rocket Internet's Head of Operations. In 2016, Kandil joined Careem, a ride-sharing company and the first unicorn in the Middle East. He supported the platform's expansion into multiple new markets. Careem is now a subsidiary of Uber, based in Dubai, with operations across 100 cities and 15 countries.For additional information about Swvl, please visit www.swvl.com.
Daniel Yunger Kekst CNCkekst-swvl@kekstcnc.com 917-574-8582
Youssef Salem Swvl CFOInvestor.relations@swvl.com