{"id":555259,"date":"2021-11-08T04:00:34","date_gmt":"2021-11-08T04:00:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/08\/swvl-to-invest-usd-25-mn-in-engineering-marketing\/"},"modified":"2021-11-08T04:00:34","modified_gmt":"2021-11-08T04:00:34","slug":"swvl-to-invest-usd-25-mn-in-engineering-marketing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/08\/swvl-to-invest-usd-25-mn-in-engineering-marketing\/","title":{"rendered":"Swvl to invest USD 25 mn in engineering, marketing"},"content":{"rendered":"

<\/a> Homegrown mass transport startup Swvl plans to invest USD 25 mn over the next <\/strong>year, part of which will go towards its engineering team in Egypt<\/strong>, CFO Youssef Salem told Hapi Journal<\/a>. A portion of the investment will also go towards its marketing plan, according to the report, which appeared in yesterday\u2019s print edition of the newspaper. The investment comes as part of a longer-term global expansion plan<\/a> to invest up to USD 300 mn over the next three years. Swvl has invested a total of USD 120 mn since it was founded in 2017.<\/p>\n

Tech upgrades + expansion plans are also on the way: <\/strong>The company is currently working on updates to the drivers\u2019 app that will allow drivers to receive payments right before trips begin (rather than on a weekly basis), as well as pay for gas online. It is also in talks with banks to provide new vehicle loans to Swvl drivers. These plans are part of the three-year USD 300 mn investment plan, but are not covered by the USD 25 mn investment, Salem confirmed to Enterprise. A bulk of the USD 300 mn investment is also going towards an ambitious expansion plan<\/a> that will see it begin operating in four countries in Latin America and Southeast Asia before the end of the year, and developing a subscription-based service to its frequent users.<\/p>\n

Reminder:<\/strong> The startup announced it will go public<\/a> on the Nasdaq through a merger with blank-check firm Queen\u2019s Gambit Growth Capital back in July and is expected to list in December or January, according to Hapi Journal.<\/p>\n","protected":false},"excerpt":{"rendered":"

Homegrown mass transport startup Swvl plans to invest USD 25 mn over the next year, part of which will go towards its engineering team in Egypt, CFO Youssef Salem told Hapi Journal. A portion of the investment will also go towards its marketing plan, according to the report, which appeared in yesterday\u2019s print edition of […]<\/p>\n","protected":false},"author":1,"featured_media":555260,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[72,125,95,123,507,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam","tag-investment-watch","tag-startup-watch","tag-startups","tag-swvl","tag-transport","wpautop","entry"],"acf":{"mongo_id":"29833174-eb3e-47a2-92e4-badcb9c597b9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/362.jpg","photo_position":"above","related_issue":[555250],"teaser":"","voice_url":""},"yoast_head":"\nSwvl to invest USD 25 mn in engineering, marketing - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/08\/swvl-to-invest-usd-25-mn-in-engineering-marketing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Swvl to invest USD 25 mn in engineering, marketing\" \/>\n<meta property=\"og:description\" content=\"Homegrown mass transport startup Swvl plans to invest USD 25 mn over the next year, part of which will go towards its engineering team in Egypt, CFO Youssef Salem told Hapi Journal. 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The big ticket spending will come after the company completes its IPO on the Nasdaq, and will be used to help\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/299.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544716,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/17\/swvl-to-invest-usd-15-mn-in-argentina-expansion\/","url_meta":{"origin":555259,"position":1},"title":"Swvl to invest USD 15 mn in Argentina expansion","author":"enterpriseam admin","date":"17 March 2022","format":false,"excerpt":"Mass transit firm Swvl is investing USD 15 mn in Argentina over the next three years to scale the company\u2019s operations in the country, CFO Youssef Salem told Enterprise. The investments will target research and development, and supply and customer acquisition, he said. Swvl also plans to use the funds\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/222.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":622003,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/25\/swvl-valued-at-usd-100-mn\/","url_meta":{"origin":555259,"position":2},"title":"Swvl valued at USD 100 mn?","author":"enterpriseam admin","date":"25 November 2018","format":false,"excerpt":"INVESTMENT WATCH- Swvl valued at USD 100 mn in series \u2018B\u2019 funding round? Mass transit app Swvl raised \u201ctens of mns of USD\u201d in Series \u2018B\u2019 funding from new and existing investors, CEO and co-founder Mostafa Kandil told Reuters on Thursday. While he did not disclose size of the round\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1706.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592695,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/04\/egypts-swvl-plans-to-invest-usd-25-mn-in-pakistan-to-fund-pre-seed-startups\/","url_meta":{"origin":555259,"position":3},"title":"Egypt\u2019s Swvl plans to invest USD 25 mn in Pakistan to fund pre-seed startups","author":"enterpriseam admin","date":"4 November 2019","format":false,"excerpt":"STARTUP WATCH- Swvl plans to invest USD 25 mn in Pakistan to fund pre-seed startups, Pakistani outlet Samaa reports. The mass transit company now intends to launch an incubator that will create 10k jobs a year and impact half a mn Pakistanis by 2023. The announcement was made at a\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":630552,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/swvl-sees-the-largest-funding-round-in-egypt-tech-startup-history\/","url_meta":{"origin":555259,"position":4},"title":"Swvl sees the largest funding round in Egypt tech startup history","author":"enterpriseam admin","date":"24 April 2018","format":false,"excerpt":"INVESTMENT WATCH- Swvl closes the largest funding round in Egypt tech startup history: Mass transit ride-hailing app Swvl received USD 8 mn in Series A funding, the company said in a statement on Monday (pdf). The funding is led by regional venture fund BECO Capital, alongside Africa-based investor DiGAME, global\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1706.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":604917,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/17\/swvl-in-market-for-usd-50-100-mn-loan-to-fund-egypt-foreign-expansion\/","url_meta":{"origin":555259,"position":5},"title":"Swvl in market for USD 50-100 mn loan to fund Egypt, foreign expansion","author":"enterpriseam admin","date":"17 December 2018","format":false,"excerpt":"Swvl in market for USD 50-100 mn loan to fund local, global expansion: Mass transit app Swvl is in talks with Asia-based investment funds to secure a USD 50-100 mn loan to finance its local and global expansion plans, CEO and co-founder Mostafa Kandil tells Al Mal. 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