Swvl Holdings Corp (Nasdaq: SWVL), a technology-driven mobility solutions provider for enterprises and governments, has entered into a definitive agreement with Sofico Holdings Limited for a $1.5 million private placement in Swvl’s ordinary shares at a purchase price of $1.46 per share.
The transaction is expected to close on August 28, 2026, subject to the satisfaction of customary closing conditions. Under the agreement, Sofico has committed to a six-month lock-up period for the securities purchased, followed by additional restrictions on the volume and timing of subsequent sales.
Swvl said it plans to use the net proceeds from the private placement for working capital and general corporate purposes, including expanding its operations in the United States.
The investment from Sofico follows a previously announced $13 million private placement on August 25, bringing Swvl’s total strategic investment round to approximately $14.5 million.
Swvl previously announced that the $13 million round was led by the Sawiris family and Coefficient LP, with the investment aimed at supporting the company’s next phase of growth and its expansion in the U.S. market.
Sofico is a Cairo-based family investment company with longstanding ties to Egypt’s transportation sector, dating back to its establishment in the 1950s. The company currently maintains a portfolio of investments across Egypt and Europe spanning consumer businesses, healthcare, agriculture, technology, construction, and real estate.