Swvl raises $13 million in private placement led by Sawiris-backed Coefficient

SWVL has raised $13 million in a strategic private placement led by Coefficient LP, a Houston based firm backed by the Sawiris family. Launchbase Africa reported on 25 August. A further $1.5 million placement the next day brought the total to about $14.5 million.

Who invested

Coefficient put in $10 million and becomes Swvl's largest institutional shareholder. An existing investor, not named, added $3 million. Sofico Holdings Limited, a Cairo based family investment company, contributed the extra $1.5 million and agreed to a six month lock up. Abdalla Ali, Coefficient's founder and managing partner, joins the Swvl board.

What Swvl does

Swvl began as a Cairo bus booking app and now positions itself as an enterprise software provider for mass transport. It is Nasdaq listed after a 2021 SPAC merger, and Mostafa Kandil is founder and CEO. The Gulf is its largest revenue driver, and it has recently entered the United States, with Chicago and Texas as target areas.

Traction and plans

In the first quarter of 2026, revenue rose 68% year on year to $8.2 million, with Gulf sales up 111%. Recurring revenue made up 88% of the total. The money supports US expansion, a planned lending product for transport operators and a stronger balance sheet.

At a glance

• Company: SWVL
• Raised: $13 million (about $14.5 million with the follow on)
• Round: Private placement
• Investors: Coefficient LP ($10 million), Sofico Holdings Limited, an existing investor
• Markets: Gulf, with a recent US entry
• Key figure: Q1 2026 revenue of $8.2 million, up 68%