Founders: Mostafa Kandil, Ahmed Sabbah
The Middle East’s 50 Most-Funded Startups
Rank: #2
Swvl
Country: U.A.E.
Funding: $92 million
Investors: Vostok, Beco Capital, MSA, Autotech, Blustone, Endeavor Catalyst, Oman Tech Fund, Arzan VC, Sawari Ventures , Michael Lahyani, DiGAME, Silicon Badia, Raed Ventures, Dash Ventures, Esther Dyson, Emilian Popa, Onsi sawaris and africa legal network
Founded In: 2017
Mass transit system
Since its launch in 2017, bushailing app Swvl has built a network of over 600 lines in Cairo and Alexandria, and recently launched in Kenya and Pakistan. Swvl enables riders heading in the same direction to share fixed-route bus trips for a flat fare up to 70% cheaper than other ride-hailing apps. In 2019, the company secured one of the largest Series B rounds in the region, with $42 million raised. The company plans to use the funding to expand its global position and bring the service to more markets that suffer from an inadequate public transportation infrastructure.