{"id":558862,"date":"2021-08-30T04:01:41","date_gmt":"2021-08-30T04:01:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/30\/swvl-to-invest-up-to-usd-300-mn-globally-over-next-three-years\/"},"modified":"2021-08-30T04:01:41","modified_gmt":"2021-08-30T04:01:41","slug":"swvl-to-invest-up-to-usd-300-mn-globally-over-next-three-years","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/30\/swvl-to-invest-up-to-usd-300-mn-globally-over-next-three-years\/","title":{"rendered":"Swvl to invest up to USD 300 mn globally over next three years"},"content":{"rendered":"

<\/a> Mass transport startup Swvl is planning to invest USD 250-300 mn <\/strong>over the next <\/strong>three years<\/strong> to expand its global footprint, the company\u2019s CFO Youssef Salem told Al Mal<\/a>. The big ticket spending will come after the company completes its IPO on the Nasdaq, and will be used to help it enter new markets, he said, confirming the news to us.<\/p>\n

Expansion plans:<\/strong> Swvl plans to start operating in four countries in Latin America and Southeast Asia including Brazil, Mexico and Malaysia before the end of the year, Al Mal quotes Salem as having said. It will then look to use these countries to launch into other regional markets including Colombia, Peru and Argentina. Nigeria and South Africa, which are longer-term targets for investment.<\/p>\n

Swvl might have just got itself a base in Europe<\/strong> after agreeing to acquire<\/a> the Barcelona-based startup Shotl earlier this month. A takeover would more than double Swvl\u2019s geographic footprint to include another 22 cities across 10 countries.<\/p>\n

Nasdaq listing coming next quarter:<\/strong> Swvl said last month it would go public<\/a> on the Nasdaq in 4Q2021 through a merger with blank-check firm Queen\u2019s Gambit Growth Capital. The agreement values the company at around USD 1.5 bn, and the listing will raise the company\u2019s capital to USD 550 mn from USD 100+ mn today. Swvl is also mulling an IPO on the EGX<\/a> in 2022-2023 and expects to become profitable for the first time in 2024, CFO Youssef Salem previously told Reuters.<\/p>\n

Advisors:<\/strong> Barclay\u2019s is on board to advise on the listing along with other international financial advisors, Salem said.<\/p>\n

Background:<\/strong> Queen\u2019s Gambit Growth Capital reportedly raised some USD 300 mn for the merger from a group of unnamed investors earlier this year and brought on an additional USD 45 mn in investment through the underwriters\u2019 overallotment option. An additional USD 100 mn private investment in public equity (PIPE) was raised by Agility, Luxor Capital Group LP and Zain Group<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mass transport startup Swvl is planning to invest USD 250-300 mn over the next three years to expand its global footprint, the company\u2019s CFO Youssef Salem told Al Mal. The big ticket spending will come after the company completes its IPO on the Nasdaq, and will be used to help it enter new markets, he […]<\/p>\n","protected":false},"author":1,"featured_media":558863,"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":[7272],"tags":[72,297,125,78,3162,3564,439,507,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseam","tag-europe","tag-investment-watch","tag-ipo-watch","tag-latin-america","tag-shotl","tag-spacs","tag-swvl","tag-transport","wpautop","entry"],"acf":{"mongo_id":"491a4363-fd78-435b-abee-d85c2c9cb5a1","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/299.jpg","photo_position":"above","related_issue":[558858],"teaser":"","voice_url":""},"yoast_head":"\nSwvl to invest up to USD 300 mn globally over next three years - 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\/08\/30\/swvl-to-invest-up-to-usd-300-mn-globally-over-next-three-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Swvl to invest up to USD 300 mn globally over next three years\" \/>\n<meta property=\"og:description\" content=\"Mass transport startup Swvl is planning to invest USD 250-300 mn over the next three years to expand its global footprint, the company\u2019s CFO Youssef Salem told Al Mal. 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A portion of the investment will also go towards its marketing plan, according to the report, which appeared\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/362.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555520,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/swvl-to-enter-chile-argentina-with-viapool-acquisition\/","url_meta":{"origin":558862,"position":1},"title":"Swvl to enter Chile, Argentina with Viapool acquisition","author":"enterpriseam admin","date":"17 November 2021","format":false,"excerpt":"Homegrown mass transport startup Swvl will enter Latin America for the first time with the acquisition of a controlling stake in transit company Viapool, which operates in Argentina and Chile, according to a company statement yesterday. 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Swvl is\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/712.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543518,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/swvl-receives-funding-boost-ahead-of-nasdaq-spac-merger-anghami-starts-trading\/","url_meta":{"origin":558862,"position":4},"title":"Swvl receives funding boost ahead of Nasdaq SPAC merger + Anghami starts trading","author":"enterpriseam admin","date":"6 February 2022","format":false,"excerpt":"The EBRD is backing Swvl ahead of Nasdaq debut: Egypt-born, UAE-based mass transit app Swvl has new investors on board as it gears up to go public on the Nasdaq via a SPAC merger, the firm announced on Wednesday. The European Bank for Reconstruction and Development (EBRD) and Teklas Ventures,\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/61.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544659,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/15\/swvl-expects-us-regulators-to-greenlight-its-nasdaq-ipo-today\/","url_meta":{"origin":558862,"position":5},"title":"Swvl expects US regulators to greenlight its Nasdaq IPO today","author":"enterpriseam admin","date":"15 March 2022","format":false,"excerpt":"Mass transportation startup Swvl expects to receive final approvals on its IPO from the US\u2019 Securities and Exchange Commission (SEC) today, CFO Youssef Salem told Enterprise. The Egypt-born ride-hailing app is set to go public on the Nasdaq through its merger with US SPAC Queen\u2019s Gambit Growth Capital by the\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/183.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=558862"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558862\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/558858"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/558863"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=558862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=558862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=558862"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=558862"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=558862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}