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Swivel Holdings Corporation (“SWvl” or “Company”) (NASDAQ: SWVL), a leading supplier of wholesale transit solutions for transformation technology, announced a firm agreement today. Mexico-based Urbvan Mobility Ltd (“Urbvan”), a mobile mobility platform for tech-assisted transportation Latin America Second largest country in population. Urbavan offers state-of-the-art transportation services that offer a wide geographical distance aimed at improving both quality of life and bus travel safety standards. Combining mobile designs with a shared vehicle collector platform, Swvl Urbavan’s purchase provides a great opportunity to accelerate Swvl’s mission to provide safe, fast, smart and more affordable bulk transport to everyone, no matter where they are.
Urbavan was founded in 2016 with the aim of working together to improve people’s lives. The company operates in 18 cities Mexico Solutions for city roads, downtown, private organizations and private order needs. Like Swvl, Urbavan is committed to providing affordable, efficient transportation options without harassment and other unsafe conditions.
Mustafa Kandil.Swvl founder and CEO“Urbvan is based on the same principals as Swvl. MexicoAn impressive collection of transport services (TaaS) and its relationship with local government players, this acquisition will strengthen Swvl’s position as a provider of safer and more secure mobility solutions for vulnerable populations, challenging geographical markets.
Renato PicardFounder and CEO of Urbavan, “Swvl and Urbvan share the vision of adjusting mass transit to make it safer for everyone in the most challenging and densely populated urban areas. Latin America. We look forward to partnering with Swvl as we work to demonstrate the best practices for technology-enhanced day trips. Mexico. This allows Urbavan to use Swvl’s global offerings to scale the region and beyond. We look forward to using our combined capabilities to provide safe, efficient and affordable shared mobility options around the world.
Joao Mattos AlbinoFounder and CEO of Urbavan, “As it seeks new growth opportunities, Swivel Urbavan’s interest has emerged as a good partner in creating a more efficient and sustainable transport system. Latin America. At Swvl, we were impressed by the rapid expansion of their platform globally, offering the best mobility solutions in the classroom and ensuring that both employees and users are given priority. We look forward to working with them on our next trip.
Wool SalemSwvl CFO“Purchasing Urban will contribute to all of the key objectives of our recently announced portfolio improvement plan: Opportunity to improve literacy opportunities, improve cash flow by 2023, focus on high-profit segments TaaS and SaaS, expand into higher ticket prices. Today’s announcement strengthens Swivel’s commitment to supporting regional champions on a mobile basis.
Shopping highlights
Swvl offers an improved measure that Swvl believes will bring significant value to shareholders in a number of ways.
- It drives Swvl’s continued global expansion.
- It strengthens its entry into the attractive, dense Mexican market and provides a solid foundation for further growth Latin America.
- It will increase the world’s footprint to> 135 cities in 20 countries.
- Provides an additional set of TaS mobility solutions capable of retaining customers and experiencing high levels of growth
- More than 450,000 users and more 9m Tickets So far.
- B2B has a customer base of more than 80 companies, including large multinational companies.
- 27 Anchor Roads in Mexico City.
- Brings a proven development history;
- CAGR 138% revenue since 2017.
The purchase is expected to be completed in Q3 2022.
About Swvl
Swvl is a global provider of technology-enabled mass transit solutions, with intermediate, intracity, B2B and B2G transportation in 135 cities in> 20 countries. The company’s platform provides semi-private options for public transportation for individuals who are unable to obtain or purchase private options. Every day, Swvl’s parallel mass transit systems encourage individuals to go wherever they want – mobile, safer, more efficient, more accessible and more environmentally friendly. Customers can find a variety of payment options and 24/7 quality private buses and vans with an easy-to-use proprietary app.
Swvl co-founded by Mustafa Kandil.The car sales platform, which started its rocket internet business, was launched by Carmuddi PhilippinesWithin six months, it became the largest car identification company in the country. He then served as head of rocket internet operations. A.D. In 2016, Kandil joined Ride Sharing Company and the first Unicorn. middle east. He supported the platform’s expansion into many new markets.
For more information about Swvl, please visit www.swvl.com.
About Urbavan
Urbvan is using a three-dimensional marketplace that connects companies, consumers and third-party vehicles with tech-enabled wholesale. Urbavan is committed to providing efficient, affordable and reliable services, which can have a significant impact on the way people enter. Latin America. The company aims to improve the quality of life of people by focusing on transportation and having a positive impact on the environment. Since its inception, Urbavan has been one of the largest Latin American primary funds, e.g. Kaszek Ventures, Angel Ventures, DILA Capital, Mountain Nazca, Capria, Liil Ventures and Angel Investor Kevin Efrusy.
Urbavan was co-founded by Renato Picard And Joao Mattos Albino A.D. In 2016. Renato received his BA from the Institute of Technology Autonomous de Mexico (ITAM). He began consulting with a focus on the residential and hospitality industry. In addition, it actively supports entrepreneurs and cultural companies as consultants. Joao came from Portugal And before he founded Urbavan, he worked on rocket internet, was part of the region’s first online grocery supply group, and worked for companies such as Unilever and Mars. Joao holds a bachelor’s degree in business and economics from the BSC at the NOVA School of Business and Economics, and the MSC at Cranfield Business School. Joao is an Endeavor Entrepreneur and has been investing in the region as an angelic investor over the years.
For more information about Urbvan, please visit www.uvan.com
Future Statements
Some of the statements made here are not historical facts but are forward-looking statements. Future expressions are generally accompanied by words such as “can”, “can”, “allow”, “guess”, “continue”, “guess”, “think”, “expect”, “must”. “” Plan “,” Predict “,” Predict “,” Seek “,” Seek “,” Future “,” Perspective “and similar expressions are not predictions or events of history. They include, but are not limited to.
These statements are based on the current promises of the Swvl administration and are not accurate performance predictions. These forward-looking statements are for informational purposes only and are not intended to serve and should not be relied upon by any investor as a guarantee, guarantee, forecast or accurate statement of fact. Accurate events and situations are difficult or impossible to predict and vary from estimation. Many real events and situations are out of Swvl’s control. These statements are subject to many risks and doubts about Swvl’s business, and the actual results may vary materially. These risks and suspicions include, but are not limited to, general economic, political, and commercial conditions, including the economic and labor disruption caused by the CVD-19 epidemic, and other limitations. The ability of the joint venture to implement its growth strategy, manage its growth profitably and retain its key employees, compete with other companies in the mobile industry; Swvl’s limited operating history and lack of experience as a public company; Implement recent policies and procedures to ensure compliance with relevant laws and regulations, including anti-corruption, anti-corruption and cyber protection; The risk that Swvl will not be able to implement the portfolio improvement plan; The risk that Swvl will not be able to attract and retain consumers and qualified drivers and other high-quality employees; The risk that Swvl will not be able to protect and enforce his intellectual property rights; The risk that Swvl could not determine driver needs to develop new offerings on the platform, the difficulty of obtaining the necessary registrations, licenses, permits or approvals in the regions where Swvl currently operates or will continue to operate, Swvl is currently inactive May have regulatory and legal frameworks and may, if any, have agreements or other arrangements to protect foreign investment or participation; The risk that Swvl drivers may be classified as employees, employees or employees in the districts where they operate, that Swvl has operations in countries known to have high levels of corruption and compliance with state anti-corruption laws in those regions; The ability to maintain Swvl’s warranty list on the Nasdaq; Swvl purchases may not be beneficial for Swvl due to the cost of integrating geographically differentiated operations and the focus on management from existing businesses. And other concerns are detailed from time to time with the US Securities and Exchange Commission. The list of risk factors above is not exhaustive. There may be additional risks that Swvl does not currently know or that Swvl believes are currently non-material, which may differ from the actual results included in future statements. In addition, future descriptions provide Swvl’s predictions, plans, and forecasts from the date of this connection. Swvl estimates that the events and developments that follow will change Swvl’s reviews and predictions. However, while Swvl may choose to update these future statements, Swvl does not accept any obligation to do so. These forward-looking statements should not be construed to represent Swvl reviews like any other day after this contact date. Accordingly, it should not be overly dependent on future statements.
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