Nasdaq-listed mobility company Swvl entered private-placement agreements with Coefficient, HITE Hedge Asset Management and Sofico Holdings, with Coefficient committing $10 million and receiving specified shareholder rights.
Swvl Holdings Corp has expanded its announced private placement to approximately $14.5 million after entering an additional $1.5 million securities purchase agreement with Sofico Holdings Limited.
The Dubai-based mobility company initially entered agreements with Coefficient SWVL Holdings, an entity associated with Coefficient LP, and HITE Hedge Asset Management covering approximately $13 million in gross proceeds. Under those agreements, the investors agreed to purchase 8,990,317 Class A ordinary shares at $1.446 per share.
Coefficient committed $10 million to the transaction, while HITE committed $3 million under its separate securities purchase agreement.
Swvl subsequently entered an agreement with Sofico to sell another 1,027,397 Class A shares at $1.46 each for approximately $1.5 million in additional gross proceeds. Swvl said the Sofico investment increased the combined announced private placement to approximately $14.5 million.
The transactions had not been confirmed as completed in the filings reviewed by Bipsiq. Swvl’s filings said the original $13 million placement was expected to close on August 27, 2026, while the Sofico placement was expected to close on August 28, in each case subject to customary closing conditions.
Coefficient also negotiated governance and participation rights alongside its investment. As long as Coefficient and its affiliates beneficially own at least 5% of Swvl’s outstanding ordinary shares on a fully diluted basis, the firm has the right to designate a director nominee, participate on a pro-rata basis in certain future equity issuances and exercise specified consent rights over certain corporate actions. Abdalla Ali, Coefficient’s co-founder and managing partner, was identified as the initial director nominee.
Swvl said it intends to use proceeds from the original placement to accelerate its expansion in the United States, begin a lending offering for transport operators and other network partners, and strengthen its balance sheet to support its enterprise and government contract pipeline. The Sofico proceeds are intended for working capital and general corporate purposes, including US expansion.
Swvl provides technology-enabled mobility and fleet-management services for enterprises and governments. Its platform uses algorithms and machine learning for functions including transportation-demand forecasting, route optimization, resource allocation and vehicle dispatch. The company currently says it serves customers across Egypt, Saudi Arabia, the UAE, Kuwait, Qatar, the UK and the US.
Swvl was founded in 2017 by Mostafa Kandil, Mahmoud Nouh and Ahmed Sabbah. Kandil remains chief executive of the Nasdaq-listed company, whose principal executive office is in Dubai.
On September 1, Swvl separately announced a working-capital facility with UAE financing platform Zelo to support new enterprise deployments in the UAE. The company did not disclose the size of that facility, and it is separate from the approximately $14.5 million private placement.
