Biography Of Mostafa Kandil (Age , Wife , Net Worth)

Biography Of Mostafa Kandil (Age , Wife , Net Worth) – SWVL Holdings Corp has agreed to buy Urbvan Mobility, a shared mobility platform located in Mexico that offers tech-enabled transportation services and solutions.

SWVL Holdings Corp is a worldwide technology firm established by Egyptian business magnate Mostafa Kandil.

The plan agreement comes roughly three months after the Egyptian firm agreed to buy Volt Lines, a Turkish B2B transport mobility platform, for $40 million.

This is the company’s fourth purchase this year as it strives to build a worldwide technology group through smart acquisitions.

The deal, which is expected to close in the third quarter of 2022, will, according to management, provide an excellent opportunity to accelerate Swvl’s mission of providing safer, faster, smarter, and more affordable mass transportation services, as well as create substantial value for shareholders in a variety of ways.

Mostafa Kandil, Swvl’s founder and CEO, remarked on the deal, saying, “Urbvan was formed on the same ideas as Swvl: to eliminate the inefficiencies present in traditional mass transit in many regions of the world.”

Swvl’s position as a leading supplier of safer and more dependable mobility solutions is strengthened by the purchase, which leverages Urbvan’s considerable footprint in Mexico, an exceptional portfolio of Transport as a Service (TaaS) capabilities, and strong partnerships with local government players.

Swvl and Urbvan share a vision to redesign mass transit to make it safer for everyone, regardless of gender or social class, according to Urbvan Co-Founder and Co-CEO Renato Picard, and the transaction allows Urbvan to leverage Swvl’s global offerings to scale the platform both within the region and beyond.

Swvl is a worldwide supplier of disruptive tech-enabled mass transit solutions, with operations in over 135 cities across 20 countries, including intercity, intracity, B2B, and B2G transportation.

Swvl’s gross income and markets have developed significantly under Kandil’s leadership, with more than 1.4 million users booking more than 46 million trips with thousands of drivers on its platform to date.

The IT firm raised an additional $21.5 million in private investment in public stock from new investors, including the European Bank for Reconstruction and Development, about five months ago.