North Africa focused tech blog Menabytes reports that Egyptian company Swvl, which runs a bus-hailing service in Egypt, Kenya and Pakistan raised raised over $20 million in a new round earlier this year.
According to them, the round has not been annouced but is confirmed in the financials of Swedish VC Vostok New Ventures who reported an investment of $7million in Swvl in a pre COVID-19 round.
This funding will provide liquity to Swvl as the transport sector has been hard hit by COVID-19. Allowing it to continue to expand once the sector begins to stabilize.
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