| Founded | 2017 |
|---|---|
| Closed | 2023 |
| Country | Egypt |
| Sector | Mobility |
| Total raised | ~$167M USD |
| Collapse type | Mass Layoff Spiral |
| Founder | Mostafa Kandil |
Swvl
"Cairo's bus revolution listed on Nasdaq at $1.5B. Fired 32% of staff on listing day. Delisted 2023."
Cascading layoffs that accelerated the decline
Key Events Timeline
Swvl was founded in 2017 in Cairo by Mostafa Kandil, Mahmoud Nouh, and Ahmed Sabbah.
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