28 July 2021
Dubai-Based Swvl, the 1st ME Unicorn to List on Nasdaq US
Founded in 2017 by Mostafa Kandil, Mahmoud Nouh, and Ahmed Sabbah, Swvl started as a bus-hailing service in Egypt, enabling users to travel within a city by booking seats on buses on fixed routes. It later expanded the service in Kenya and Pakistan and moved its headquarters to Dubai. Today Swvl is to finalize an agreement with a SPAC that makes it the first Middle East USD 1.5 billion Unicorn to list on Nasdaq US.