Cairo-based Swvl raises $42 million

Cairo-based transportation startup Swvl has raised $42 million in fresh funds (Series B-2), the startup announced in a statement to MENAbytes. The round was co-led by Swedish VC Vostok Ventures and Dubai-based BECO Capital, with China’s MSA, US-based Endeavor Catalyst, Oman’s OTF Jasoor Ventures, Egypt’s Sawari Ventures, Kuwait’s Arzan VC, Dubai-based Blustone, San Francisco-based Autotech, and Property Finder’s CEO Michael Lahyani joining in. The investment comes almost seven months after Swvl announced its tens of millions of dollar of Series B at a valuation close to $100 million.

Started just two years ago, Swvl has now raised close to $80 million so far which makes it one of the best-funded startups of the region.