Swvl went public via merger with Queen's Gambit Growth Capital in a $1.5bn deal.

Swvl, a Dubai-based provider of transformative mass transit and shared mobility solutions, went public via merger with Queen's Gambit Growth Capital, the first special purpose acquisition company led by women, in a $1.5bn deal. The deal included an upsized $100m fully committed common share PIPE, led by global strategic and financial investors including Agility, Luxor Capital Group and Zain. "Completing our business combination with Queen's Gambit is a tremendous milestone for Swvl and for sustainable mass transit globally. Mobility and the empowerment that comes with it should be a fundamental right for all. As a public company, we plan to build on Swvl's exponential growth to date and proprietary tech-enabled platform, ensuring that underserved populations have access to solutions that are safe, convenient and affordable. In turn, we will leverage our best-in-class team, established partnerships and proprietary tech stack with differentiated solutions," Mostafa Kandil, Swvl Founder and CEO.