SWVL first $1.5bn Unicorn from ME to list on Nasdaq

DUBAI, UAE : Swvl Inc., a Dubai-based provider of transformative mass transit and shared mobility solutions, and Queen’s Gambit Growth Capital (“Queen’s Gambit”) (NASDAQ: GMBT), the first special purpose acquisition company led by women, today announced that they have entered into a definitive agreement for a business combination that would result in Swvl becoming a publicly listed company.

Upon completion of the proposed transaction, the combined public company will be named Swvl Holdings Corp and is expected to be listed on NASDAQ under the ticker symbol “SWVL”.Swvl, co-founded by Mostafa Kandil in 2017 when he was just 24 years old, is transforming the $1 trillion global mass transit market.

The Company’s proprietary mobility solutions, powered by cutting-edge technology, are helping to solve mass transit supply and demand challenges in unchartered, emerging markets – empowering massively underserved communities with transportation solutions that are reliable, convenient, safe, and affordable.

In just four years, Swvl has become the industry leader in mass-transit across 10 cities in Pakistan, Egypt, the UAE, Saudi Arabia, Jordan and Kenya Featuring diversified transit offerings that, in just a few short years, have evolved from daily commuting to inter-city retail travel, to Transport as a Service (“TaaS”) offerings for businesses, schools, universities and other critical service organizations, Swvl is poised to take the next step in its evolution.