Swvl secures sustainable credit facility from HSBC: Egypt-founded, Nasdaq-listed mass transit app Swvl has secured a sustainable credit facility from our friends at HSBC to fund its growing pipeline of client contracts this quarter and enhance financial operations, according to a statement (pdf).

More than just financing: Under the facility, HSBC will manage Swvl’s banking operations across multiple markets, streamlining financial processes and improving cash flow management to support the company’s growth plans.

What they said: “I believe that our collaboration with HSBC is a key milestone in our efforts to optimize financial operations and boost profitable growth,” Swvl CEO Mostafa Kandil said.

Swvl has had a busy few years, from going public on the Nasdaq through a SPAC merger back in 2022 and receiving delisting warnings shortly after to shifting its business model in efforts to become profitable.

Want the full story? EnterpriseAM UAE spoke to Kandil earlier this year. Check out the interview here.

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