Financial Reporting - The consolidated statement of comprehensive income and cash flows for the year ended December 31, 2023, is reported[1] - The company experienced a material weakness in internal controls over financial reporting, specifically related to the classification of continued and discontinued operations[2] Business Operations - The company aims to provide reliable, safe, cost-effective, and environmentally responsible mass transit solutions through its technology-driven platform[18] Stock Market Activity - Ordinary shares and public warrants began trading on the Nasdaq Capital Market effective July 19, 2023, after transferring from the Nasdaq Global Market[19] - A 1-for-25 reverse stock split was implemented on January 25, 2023, affecting the share and per share amounts reported[20] Market Risks - The company is exposed to market risks including credit risk, currency risk, interest rate risk, and other price risk[605] - Credit risk arises from trade and other receivables, with ongoing credit evaluations performed to mitigate concentration risk[606] - The company is not exposed to material interest rate risk due to the absence of significant borrowings[607] - Foreign currency risk exists for transactions in currencies not pegged to the US dollar, such as Pakistani rupees and Egyptian pounds[608] - As of December 31, 2023, the company was not exposed to price risk as it had no financial instruments sensitive to market prices[610]

DUBAI, United Arab Emirates, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Swvl Holdings Corp ("Swvl" or the "Company") (NASDAQ:SWVL), a leading provider of technology-driven mobility solutions for enterprises and governments, today announced that investors have exercised their right to purchase additional securities pursuant to the previously executed definitive agreement dated November 17, 2024, to purchase $2 million of pre-funded warrants to purchase ordinary shares in a private placement, at a purchase price of $4 ...

DUBAI, United Arab Emirates, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Swvl Holdings Corp. ("Swvl" or the "Company") (NASDAQ:SWVL), a global technology-enabled mass transit solutions provider, is pleased to announce the appointment of Mr. Ahmed Misbah as its new Chief Financial Officer, effective immediately. Since June 2021, Mr. Misbah has been an integral part of Swvl's finance leadership, having served as Group Finance Manager, Head of Finance, and Director of Finance. During his tenure, he has played a pivotal ...

DUBAI, United Arab Emirates, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Swvl Holdings Corp ("Swvl" or the "Company") (NASDAQ:SWVL), a leading technology provider of enterprise and government mobility solutions, is collaborating with Saudi Awwal Bank (SAB Bank) to launch its last-mile shuttle operations in Riyadh, Saudi Arabia. This initiative builds on the successful launch of the Riyadh Metro and aims to bridge first- and last-mile connectivity gaps, ensuring seamless access for SAB employees to the city's new metr ...

Core Insights - Swvl Holdings Corp has announced a sustainable credit facility with HSBC Bank to finance the expansion of its client contracts pipeline in Q4 2024 [1][2] - The agreement with HSBC marks a significant milestone for Swvl in the enterprise mobility market, highlighting its recent achievements and robust client pipeline [2][3] - The collaboration with HSBC aims to streamline Swvl's financial operations, enhance cash flow management, and improve overall operational efficiency [3][4] Company Overview - Swvl is a leading provider of technology-driven mobility solutions for enterprises and governments, focusing on enhancing transit system efficiency for safer and more reliable transportation [5]

DUBAI, United Arab Emirates, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Swvl Holdings Corp ("Swvl" or the "Company") (Nasdaq: SWVL), a leader in technology-driven mobility solutions for enterprises and governments, announces that it has entered into a three-year contract with almajal G4S (“G4S”), a leading facility management provider in the Kingdom of Saudi Arabia. This collaboration will enable Swvl to deliver innovative SaaS-based mobility solutions that boost G4S’s fleet efficiency, driving operational excellenc ...

Group 1 - Swvl Holdings Corp has entered into a definitive agreement to purchase $4.7 million of ordinary shares in a private placement at a price of $4.79 per share [1] - The private placement is expected to close on or about November 18, 2024, and the proceeds will be used for working capital and expansion in the United States [2] - The offering is being made under an exemption from registration under the Securities Act, meaning the securities cannot be sold in the U.S. without proper registration or exemption [3] Group 2 - Swvl is recognized as a leading provider of technology-driven mobility solutions aimed at enhancing transit system efficiency for enterprises and governments [5]

Core Insights - Swvl Holdings Corp has secured new contracts worth $4.2 million with key clients in Egypt over the past three months, indicating strong demand for its mobility solutions [1][2]. Group 1: Contracts and Revenue Growth - The new contracts are with leading enterprises in strategic mobility sectors such as fast-moving consumer goods (FMCG), telecom, e-commerce, consumer goods, and banking, which are expected to drive revenue growth and expand Swvl's client portfolio [2]. - Swvl's solutions are designed to address diverse transportation needs across various industries, showcasing the effectiveness of its offerings [2]. Group 2: Service Offerings - Swvl provides both fully managed services and Software as a Service (SaaS) solutions, catering to a variety of industries and client needs [3]. - The company implements flexible models for shift-based transportation contracts, ensuring reliable transportation for workforces and student commutes [3]. Group 3: Future Plans - The CEO of Swvl expressed optimism about the company's growth and the impact of its innovative mobility solutions, with plans to launch operations in the U.S. next year [4]. - Swvl is currently evaluating multiple strategic alternatives to attract capital for accelerating its U.S. launch [4].

Core Insights - Swvl Holdings Corp has launched its regional headquarters in Riyadh, Saudi Arabia, to support long-term growth and profitability in the Gulf Cooperation Council (GCC) [1][2] - The establishment of the RHQ aligns with Saudi Arabia's Vision 2030, aiming to diversify the economy and enhance foreign investment [2] - Swvl has been operating in Saudi Arabia for four years, providing technology-driven mobility solutions that improve transportation efficiency for businesses [3][5] Company Strategy - The company plans to leverage the incentives from the RHQ program to fuel its growth strategy across the region [2][4] - Swvl aims to contribute to Saudi Arabia's digital transformation goals while enhancing its technology-driven mobility solutions [4] Market Position - Saudi Arabia is identified as the fastest-growing and most profitable market for Swvl, indicating strong demand for its services [3]

DUBAI, United Arab Emirates, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Swvl Holdings Corp ("Swvl" or the "Company") (Nasdaq: SWVL), a leading technology provider for enterprise and government mobility solutions, signed multiple new contracts in Saudi Arabia during the third quarter, contributing $2.6 million in incremental annual contract value, equal to approximately ten percent of Swvl's 2023 full year revenues. With these latest wins, Swvl's gross profit in Saudi Arabia grew by six times the amount compared to ...