Swvl, a Cairo-based transportation startup, has secured $42 million in a Series B-2 financing round.
Vostok New Venture and BECO Capital co-led the round with the participation from China’s MSA, Endeavor Catalyst, OTF Jasoor Ventures, Sawari Ventures, Arzan Venture Capital, Blustone, Autotech, and Property Finder.
Additionally, Swvl, which has raised a funding total of about $80 million so far, is planning to launch in Lagos within the next few weeks.
Previously, the company closed on a Series B round at a valuation of approximately $100 million.