Swvl Holdings Corp. has agreed to raise $13 million from investors led by Coefficient LP, a U.S. investment firm backed by Egypt’s Sawiris family, as the mobility technology company expands into the U.S. market.
Coefficient will invest $10 million in the private placement, while an existing Swvl shareholder will contribute another $3 million. The transaction is expected to close on Aug. 27, subject to customary closing conditions, according to a company statement on Tuesday.
Swvl will issue 8,990,317 Class A shares at $1.446 each. Following the investment, Coefficient is expected to become Swvl’s largest institutional shareholder.
Abdalla Ali, Coefficient’s founder and managing partner, will join Swvl’s board as part of the transaction.
The financing comes as Swvl seeks to expand beyond its core markets in the Middle East and Africa and build its business in the United States. The company said it has recently started U.S. operations and plans to use part of the proceeds to accelerate that expansion.
Swvl also plans to use the funds to launch a lending product for transportation operators and partners in its network and strengthen its balance sheet as it pursues multi-year contracts with enterprises and governments.
The Cairo-founded company reported revenue of $8.2 million in the first quarter of 2026, up 68% from a year earlier. Revenue from the Gulf Cooperation Council rose 111%, while recurring revenue accounted for 88% of total revenue.
Swvl reported net dollar retention of 114% during the quarter, while revenue pegged to the U.S. dollar increased to 44% of total revenue. Operating expenses fell to 23% of revenue, according to the company.
Swvl said the results put it closer to operating breakeven as it shifts its focus toward enterprise and government customers.
“We believe that our results demonstrate that Swvl’s enterprise-first model can scale profitably,” Chief Executive Officer Mostafa Kandil said in the statement.
The latest financing gives Swvl additional capital as it enters the U.S. market, one of the company’s most significant expansion efforts since its public listing.
Swvl, which trades on Nasdaq under the ticker SWVL, provides technology for managing transportation networks for companies, governments, schools and healthcare providers. Its operations span Egypt, Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, the United Kingdom and the United States.
Coefficient is based in Houston and invests in founder-led companies, with a focus that includes decarbonization and the energy transition. The firm is backed by the Sawiris family, one of Egypt’s most prominent business families.
The shares are being sold through a private placement under exemptions from registration requirements of the U.S. Securities Act. Swvl has agreed to file a resale registration statement covering the securities issued to Coefficient. The transaction remains subject to customary closing conditions.