- With an implied, fully diluted equity value of approximately $1.5 billion, Swvl is expected to be the first $1bn plus unicorn from the Middle East to list on Nasdaq and only tech-enabled mass transit solutions company to list on any stock exchange
- Uniquely positioned to capitalize on $1tn global market opportunity as a leading provider of tech-enabled mass transit across 10 major cities, having built a parallel mass transit system that offers intercity, intracity, B2B and business-to-government transportation
- Transaction to provide gross proceeds of up to approximately $445 million to the combined public company, including an upsized $100 million fully committed common share PIPE, led by global strategic and financial investors including Agility, Luxor Capital Group and Zain
- Proceeds to fund and accelerate Swvl's long-term growth strategy with a goal of driving $1bn+ of annual gross revenue¹ and expansion to 20 countries by 2025
- Attractive entry point for new public investors with existing Swvl shareholders rolling 100% of their stake
- Tech-enabled mobility solutions squarely aligned with Queen's Gambit's mission of removing barriers to social and economic opportunity and solving complex challenges
- Management team with deep expertise in tech-enabled transportation supported by Queen's Gambit's female led board and advisory team, offering differentiated perspectives and global relationships
- Potential for strategic and operational collaborations with key investors, Agility, a global supply chain and logistics powerhouse, and Zain, a leading mobile voice and data services operator with nearly 50 million customers across many of Swvl's current markets
PR Newswire
NEW YORK and DUBAI, July 28, 2021
