Swvl Launches Operations in Kuwait with $2.2 Million Contract
Swvl announced the launch of its operations in Kuwait, marking a key milestone in the Company's regional expansion strategy. The launch is anchored by a $2.2 million multi-year contract, reinforcing Swvl's growing presence across high-value Gulf Cooperation Council, GCC, markets. "Kuwait represents a strategically important market for Swvl as we continue to scale our enterprise mobility platform across the GCC," said Mostafa Kandil, CEO at Swvl. "We believe that securing a $2.2 million contract at the time of our launch in Kuwait demonstrates strong market confidence in our operating model, technology capabilities, and ability to deliver reliable, high-quality transportation at scale."
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Swvl Signs $1.5 Million Contract in Saudi Arabia
- Contract Signing: Swvl has signed a three-year contract valued at up to $1.5 million in Saudi Arabia, aimed at expanding its healthcare mobility operations across the Gulf Cooperation Council, leveraging its technology platform for dynamic route planning and real-time dispatching to enhance medical transport efficiency.
- Market Demand: With increasing demand for scalable solutions, Swvl's healthcare transport services will facilitate the movement of patients, medical staff, and equipment across multiple healthcare facilities, addressing complex and time-sensitive operational needs while reinforcing its position in high-value markets.
- Regional Expansion: This contract is part of a series of multi-year enterprise contracts by Swvl in the Gulf region, including contracts in Kuwait and the UAE, demonstrating sustained demand for technology-enabled large-scale transportation solutions and driving the company's strategic expansion in the region.
- Strategic Significance: The CEO of Swvl noted that Saudi Arabia represents one of the most strategic growth markets in the region, and the signing of this contract not only reflects the growing demand for technology-enabled mobility solutions but also emphasizes the company's ability to provide reliable services in critical sectors.
Swvl Launches Enterprise Mobility Solutions in Kuwait with $2.2M Contract
- Contract Award: Swvl has secured a $2.2 million multi-year contract in Kuwait to deploy its full stack of enterprise mobility solutions, marking a significant step in solidifying its presence in the Middle Eastern market.
- Regional Expansion: This rollout builds on Swvl's successful launches and long-term collaborations in the UK, UAE, Saudi Arabia, and Egypt, demonstrating strong growth momentum across multiple countries.
- Industry Demand: The company noted robust traction from sectors such as logistics, manufacturing, retail, and large corporate campuses in the region, indicating the adaptability and appeal of its solutions in diverse markets.
- Market Outlook: With ongoing expansion in the Middle East, Swvl is poised to further increase its market share and meet the growing enterprise demand through innovative mobility solutions.
Swvl Surpasses 100,000 Bookings in Partnership with Bank AlJazira
- Milestone Achievement: Swvl has surpassed 100,000 bookings in its collaboration with Bank AlJazira since the beginning of 2025, highlighting the shared commitment to transforming daily commuting through technology-driven, sustainable transport solutions in Saudi Arabia.
- Sustainable Commuting: By optimizing routes and reducing emissions, Swvl's solutions not only enhance employee commuting experiences but also align with Saudi Arabia's Vision 2030 sustainability goals, showcasing the potential of partnerships between technology and forward-thinking institutions.
- Environmental Impact: This achievement has enabled seamless transportation for thousands of employees, significantly reducing the environmental footprint of corporate mobility and advancing Saudi Arabia's progress in green commuting initiatives.
- Future Commitment: Swvl remains dedicated to building partnerships that deliver measurable impact and accelerate the shift toward a cleaner, more connected future of mobility, further solidifying its leadership position in the global market.
Swvl Surpasses 100,000 Bookings in Collaboration with Bank AlJazira
- Milestone Achievement: Swvl's collaboration with Bank AlJazira has surpassed 100,000 bookings since the beginning of 2025, highlighting the shared commitment to transforming daily commuting through technology-driven, sustainable transport solutions in Saudi Arabia.
- Green Commuting: By optimizing routes and reducing emissions, Swvl's solutions enhance employee commuting experiences while contributing to Saudi Arabia's broader sustainability and digital transformation goals, aligning with Vision 2030.
- Environmental Impact: This achievement has enabled thousands of employees to travel seamlessly, significantly reducing the environmental footprint of corporate mobility and empowering organizations to adopt commuting solutions that align with sustainability objectives.
- Future Outlook: CEO Mostafa Kandil emphasized that this milestone represents not just numbers but a successful example of collaboration between technology and forward-thinking institutions, indicating a redefinition of urban mobility in the future.
Swvl Notified by Nasdaq About Insufficient Minimum Market Value
Compliance Notice from Nasdaq: Swvl Holdings Corp received a notice from Nasdaq indicating non-compliance with the minimum market value requirement of $35 million for publicly held shares, with a compliance deadline set for April 29, 2025.
Potential Delisting: If Swvl fails to regain compliance by the deadline, it may face delisting from Nasdaq, although the company can appeal any delisting decision.
Monitoring Compliance: Swvl plans to actively monitor its market value and may explore options to regain compliance with Nasdaq's listing requirements.
Forward-Looking Statements: The press release includes forward-looking statements regarding Swvl's expectations about regaining compliance, emphasizing that actual results may differ due to various risks and uncertainties.
Swvl Holdings Reports Profit in H1; Shares Rise
SWVL's Financial Performance: Swvl Holdings Corp. reported a profit of $0.43 million in the first half of the year, a significant turnaround from a loss of $5.7 million in the same period last year, driven by a 26% increase in revenue.
Revenue Growth and Market Expansion: The company's revenue rose to $10.19 million, with an 80% increase in the Saudi Arabia region, and recurring revenue now constitutes 85% of total revenue, up from 74% a year ago.
Swvl Signs $1.5 Million Contract in Saudi Arabia
- Contract Signing: Swvl has signed a three-year contract valued at up to $1.5 million in Saudi Arabia, aimed at expanding its healthcare mobility operations across the Gulf Cooperation Council, leveraging its technology platform for dynamic route planning and real-time dispatching to enhance medical transport efficiency.
- Market Demand: With increasing demand for scalable solutions, Swvl's healthcare transport services will facilitate the movement of patients, medical staff, and equipment across multiple healthcare facilities, addressing complex and time-sensitive operational needs while reinforcing its position in high-value markets.
- Regional Expansion: This contract is part of a series of multi-year enterprise contracts by Swvl in the Gulf region, including contracts in Kuwait and the UAE, demonstrating sustained demand for technology-enabled large-scale transportation solutions and driving the company's strategic expansion in the region.
- Strategic Significance: The CEO of Swvl noted that Saudi Arabia represents one of the most strategic growth markets in the region, and the signing of this contract not only reflects the growing demand for technology-enabled mobility solutions but also emphasizes the company's ability to provide reliable services in critical sectors.
Swvl Launches Enterprise Mobility Solutions in Kuwait with $2.2M Contract
- Contract Award: Swvl has secured a $2.2 million multi-year contract in Kuwait to deploy its full stack of enterprise mobility solutions, marking a significant step in solidifying its presence in the Middle Eastern market.
- Regional Expansion: This rollout builds on Swvl's successful launches and long-term collaborations in the UK, UAE, Saudi Arabia, and Egypt, demonstrating strong growth momentum across multiple countries.
- Industry Demand: The company noted robust traction from sectors such as logistics, manufacturing, retail, and large corporate campuses in the region, indicating the adaptability and appeal of its solutions in diverse markets.
- Market Outlook: With ongoing expansion in the Middle East, Swvl is poised to further increase its market share and meet the growing enterprise demand through innovative mobility solutions.
Swvl Surpasses 100,000 Bookings in Partnership with Bank AlJazira
- Milestone Achievement: Swvl has surpassed 100,000 bookings in its collaboration with Bank AlJazira since the beginning of 2025, highlighting the shared commitment to transforming daily commuting through technology-driven, sustainable transport solutions in Saudi Arabia.
- Sustainable Commuting: By optimizing routes and reducing emissions, Swvl's solutions not only enhance employee commuting experiences but also align with Saudi Arabia's Vision 2030 sustainability goals, showcasing the potential of partnerships between technology and forward-thinking institutions.
- Environmental Impact: This achievement has enabled seamless transportation for thousands of employees, significantly reducing the environmental footprint of corporate mobility and advancing Saudi Arabia's progress in green commuting initiatives.
- Future Commitment: Swvl remains dedicated to building partnerships that deliver measurable impact and accelerate the shift toward a cleaner, more connected future of mobility, further solidifying its leadership position in the global market.
Swvl Surpasses 100,000 Bookings in Collaboration with Bank AlJazira
- Milestone Achievement: Swvl's collaboration with Bank AlJazira has surpassed 100,000 bookings since the beginning of 2025, highlighting the shared commitment to transforming daily commuting through technology-driven, sustainable transport solutions in Saudi Arabia.
- Green Commuting: By optimizing routes and reducing emissions, Swvl's solutions enhance employee commuting experiences while contributing to Saudi Arabia's broader sustainability and digital transformation goals, aligning with Vision 2030.
- Environmental Impact: This achievement has enabled thousands of employees to travel seamlessly, significantly reducing the environmental footprint of corporate mobility and empowering organizations to adopt commuting solutions that align with sustainability objectives.
- Future Outlook: CEO Mostafa Kandil emphasized that this milestone represents not just numbers but a successful example of collaboration between technology and forward-thinking institutions, indicating a redefinition of urban mobility in the future.
Swvl Notified by Nasdaq About Insufficient Minimum Market Value
Compliance Notice from Nasdaq: Swvl Holdings Corp received a notice from Nasdaq indicating non-compliance with the minimum market value requirement of $35 million for publicly held shares, with a compliance deadline set for April 29, 2025.
Potential Delisting: If Swvl fails to regain compliance by the deadline, it may face delisting from Nasdaq, although the company can appeal any delisting decision.
Monitoring Compliance: Swvl plans to actively monitor its market value and may explore options to regain compliance with Nasdaq's listing requirements.
Forward-Looking Statements: The press release includes forward-looking statements regarding Swvl's expectations about regaining compliance, emphasizing that actual results may differ due to various risks and uncertainties.
Swvl Holdings Reports Profit in H1; Shares Rise
SWVL's Financial Performance: Swvl Holdings Corp. reported a profit of $0.43 million in the first half of the year, a significant turnaround from a loss of $5.7 million in the same period last year, driven by a 26% increase in revenue.
Revenue Growth and Market Expansion: The company's revenue rose to $10.19 million, with an 80% increase in the Saudi Arabia region, and recurring revenue now constitutes 85% of total revenue, up from 74% a year ago.
