Swvl Holdings Corp (Nasdaq: SWVL), the technology-driven mobility provider, has secured an additional $2 million in funding from investors through a private placement. The investment, finalized on February 7, 2025, extends a prior $4.7 million placement executed in November 2024, reinforcing Swvl’s strategic push into the US market.
The latest funding round involves the purchase of pre-funded warrants to acquire ordinary shares at $4.79 per share. Under the agreed terms, investors have committed to a six-month lock-up period and restrictions on share transfers, limiting transactions to less than 20% of the trading volume per 90-day period. Swvl interprets these conditions as a demonstration of investor confidence in its long-term expansion strategy.
Swvl plans to allocate the net proceeds of the private placement toward working capital and general corporate purposes, with a particular focus on scaling its operations in the United States. The company has signaled an accelerated push into the North American market, complementing its existing presence in the Middle East and North Africa. Recent developments, including multi-million-dollar contracts in Egypt, Saudi Arabia, and the United Arab Emirates, alongside financing from HSBC, position Swvl to leverage its growing portfolio of transportation solutions.
The investment was executed under an exemption from registration pursuant to Section 4(a)(2) of the Securities Act of 1933 and Regulation D, restricting resale conditions unless through a registered offering or applicable exemption. The company emphasized that the announcement does not constitute an offer to sell or solicit investment in jurisdictions where such transactions are restricted by securities laws.
Swvl, founded in 2017, has built a reputation as a provider of technology-enhanced transit solutions catering to enterprises and governments. The firm continues to develop its mobility ecosystem with an emphasis on efficiency, reliability, and sustainability as it seeks to establish a stronger foothold in the US market.