An Egypt Bus booking startup has raised $42 million in a Series led by a venture in Swedish and BECO Capital based in Dubai to expand across Africa.
This firm launched early this year in Kenya and is set to enter Nigeria and another city in Africa this year.
The startup, SWVL is a mobile technology as well as a private premium alternative to public transportation that lets riders go to the same direction to share a ride during rush hour.
It was established in April 2017 by Ahmed Sabbah, Mostafa Kandil, and Mahmoud Nouh.
The bus booking startup connects commuters with shared rides with a network of high-quality buses as it runs its own fixed routes spread across the cities and customers gather at detailed pick-up spots along the route to be driven to a common drop-off location.
By means of reinventing the daily commute, SWVL is appealing to a new generation of technology-savvy commuters and also providing social benefit.
However, It is not just a means to ease commuting, but a move to encourage the contribution of youth in innovation, hunger to strive for solutions, and inspire change.
Recently, the firm partnered with Ford for its Ford Transit minibus to be used as its main shuttles.
Quoting the Managing Director of Ford North Africa, Achraf El Boustani
“We are thrilled to bring Ford Transit to Egypt, debuting in such a prominent and important role through this partnership with SWVL”.
“The key to Ford Transit’s success as a mobility platform is its reputation for dependability, versatility and capability, and we’re confident that SWVL operators here will soon learn just why thousands of people around the world rely on the Ford Transit to get the job done.”