Egypt and global economy brief
Swvl Raises $13M In Round Led By Sawiris-Backed Coefficient To Fund US Expansion
✦Key takeaways
- Dubai-based mobility startup Swvl Holdings Corp has entered into a securities purchase agreement for a $13 million private placement led by Houston-based Coefficient LP, an investment firm backed by Egypt's Sawiris family, to fund its expansion into the US market.Swvl-Coefficient deal detailsCoefficient LP, founded by Abdalla Ali, is investing $10 million in the round, with an existing Swvl shareholder contributing the remaining $3 million, according to a statement from Swvl released on Tuesday.Swvl will issue
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