SWVL, which defines itself as “Public transport for millennials” was founded by CEO, Mostafa Kandil alongside Mahmoud Nouh and Ahmed Sabbah and offers its customers accessibility to fixed routes for a fixed flat fare, at prices up to 80% cheaper than on-demand ride-hailing services.
Popular in Cairo and Alexandria, where it operates hundreds of buses, SWVL aims to help allow users in Nairobi book buses and matatus on demand in order for them to beat the frustrations of traffic.
Most of their customers are college students and corporate employees. Majority of these are women.
The women prefer SWVL buses in order to avoid harassment they face on alternative means of public transport. The company will progressively work towards developing customized products for their different customers, as well as building their network.
aims to reinvent the daily commute of Egyptians and eventually the world by customizing public transportation for the public and maximizing their comfort. Saving their time and money.
SWVL CEO and co-founder, Mostafa Kandil told to Forbes Middle East, “Swvl intends to invest $16.9 million (300 million EGP) in the local market in the next three years to empower as many micro-entrepreneurs as possible in Egypt and the region and to become one of the biggest job creators in the country.”
He added that the funding is a stamp of approval for the company from several backers and will enable it to secure its place amongst the global leaders of modern smart transit solutions and to rapidly expand its services to other markets across the Middle East, South East Asia and Africa region within 2018.