SWVL is a ride-hailing company based in Dubai that provides on-demand transportation services in multiple cities around the world. The company's service, which combines traditional taxi service with ride-sharing, is designed to provide a more efficient and cost-effective transportation option for commuters. In 2021, SWVL announced that it had raised $100 million in a Series C funding round.

According to the UnivDatos, “MENA Shared Mobility Services Market” report, the market was valued at USD 20.9 Billion in 2022 and is expected to grow at a CAGR of 17.6% during the forecast period from 2023 - 2030 to reach USD Million by 2030.

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The funding will be used to expand the company's operations in the MENA region and beyond, as well as to continue investing in new technologies and services. SWVL's service is currently available in over 20 cities around the world, including Dubai, Cairo, Istanbul, and Karachi. The company's fleet of vehicles includes traditional taxis as well as electric and hybrid vehicles, and it uses a mobile app to connect riders with drivers.

Some other Investments

·       Careem, the ride-hailing company based in Dubai, launched Careem Pay, a digital payments platform, in 2021. The platform allows users to make payments for ride-hailing services, as well as for other goods and services, using their mobile devices.

·       Volocopter, a German eVTOL (electric vertical takeoff and landing) aircraft manufacturer, announced plans to establish a manufacturing facility in Dubai in 2021. The facility will be used to produce Volocopter's electric air taxis, which are designed to provide urban air mobility services.

·       Via, a New York-based shared mobility company, announced plans to launch its service in Dubai in 2021. Via's service, which combines traditional taxi service with ride-sharing, is expected to provide a more efficient and cost-effective transportation option for commuters in Dubai.

About SWVL

SWVL is a ride-hailing company based in Dubai that provides on-demand transportation services in multiple cities around the world. The company's service, which combines traditional taxi service with ride-sharing, is designed to provide a more efficient and cost-effective transportation option for commuters. SWVL was founded in 2017 by Mahmoud Adi and Hassan Kabbani. The company's service is currently available in over 20 cities around the world, including Dubai, Cairo, Istanbul, and Karachi. SWVL's fleet of vehicles includes traditional taxis as well as electric and hybrid vehicles, and it uses a mobile app to connect riders with drivers. The company's business model is based on a flexible pricing system that allows riders to pay based on the distance of their trip and the time of day. SWVL has raised a total of $365 million in funding to date, including a $100 million Series C round in 2021. The company has also secured strategic investments from major players in the transportation industry, including Al Tayer Group and Dubai's Road and Transport Authority. SWVL's Series C funding round was led by Flex, a global provider of payment technology and services, and Al Tayer Group, one of the largest automotive and transportation companies in the Middle East. The funding will be used to expand the company's operations in the MENA region and beyond, as well as to continue investing in new technologies and services.

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Conclusion

SWVL is a fast-growing ride-hailing company that is well-positioned to capitalize on the increasing demand for efficient and cost-effective transportation options in the MENA region and beyond. With its strong management team, significant funding, and growing fleet of vehicles, SWVL is poised for continued growth and success in the years to come.

Further, a few other investments in the Leisure & Entertainment Software Services Market are also expected in the near future.

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