The best regulated crypto exchange
Find out why?
Christmas game by Currency.com
Win 1 Bitcoin. 1000 presents
Get My Gift

Egyptian transport start-up aims to launch in the Philippines, Indonesia and Bangladesh

By Ramla Soni

Swvl is set to operate in Manila, Jakarta and Dhaka by the end of next year

Egyptian transport technology start-up Swvl is planning to launch its operations in the Philippines, Indonesia and Bangladesh, according to a senior official.

Shahzeb Memon, Swvl Pakistan’s general manager, said by the end of next year the company wants to expand its reach to more cities starting in Manila, Jakarta and Dhaka.

The start-up, which has headquarters in Dubai, has an app to book and reserve bus tickets along fixed routes and launched in Egypt in 2017.

Having launched in Egypt in 2017, the company has since began operating in Pakistan. Swvl has raised $80m in funding so far and in August launched its services in Karachi, Lahore, Islamabad and Rawalpindi.

It plans to invest $25m in Pakistan to create 10,000 jobs and hopes to attract half a million customers by 2021, Memon told Reuters.

Swvl’s services target existing ride-hailing users and aims to create transportation options for a large and growing middle class in Asian cities.

Its services are 30 to 40 per cent cheaper than using a car, Memon said.

Subscribe to Currency.com news
iMac Image
The most beautiful trading app
google play storeapple store
iPhone Image
iPhone Image