Site update: Swvl ceases offering consumer services on its platform
Swvl, the consumer-focused transportation service that was founded in Cairo in 2017, has made a strategic move to reprioritize its business towards B2B (business-to-business) services. This change is part of a portfolio optimization program aimed at concentrating on its highest-priority and potentially more sustainable revenue streams amid challenging market conditions for startups globally.
According to the latest financial reports, the business-to-consumer segment contributed about 27 percent of Swvl's total revenue in 2023, amounting to $23 million. However, the company's CEO, Mostafa Kandil, has denied shutting down the consumer services, but Swvl has removed its consumer services, Daily and Travel, from its website.
The shift towards B2B services has seen Swvl expand its offerings to include Software as a Service (SaaS) and Mobility as a Service (MaaS) solutions. This strategic move likely reflects a need to streamline operations, reduce costs, and reinforce profitability by targeting business clients rather than individual consumers, which can be more cost-effective and stable for growth.
In addition to this strategic shift, Swvl has established new regional headquarters in Riyadh, Saudi Arabia. This move is significant for Swvl's regional expansion and deeper penetration into the Middle Eastern market. Riyadh is a major economic hub offering strategic access to Saudi Arabia's growing tech and startup ecosystem, backed strongly by organizations like Wa’ed Ventures, the Saudi Aramco Entrepreneurship Center’s VC arm that supports startups through funding, incubation, and business development programs.
Having a headquarters in Riyadh positions Swvl to leverage these opportunities, align with Saudi Arabia’s Vision 2030 economic diversification goals, and potentially benefit from local investments, economic incentives, and partnerships to scale its B2B transport services regionally. This move also suggests a strategic localization of operations that can provide Swvl a competitive advantage in the Middle East’s evolving mobility and logistics sector.
In summary, Swvl has reprioritized its business towards B2B services due to global startup challenges, aiming for sustainable growth by focusing on higher-value business clients. The establishment of a regional headquarters in Riyadh enables Swvl to tap into Saudi Arabia's dynamic startup ecosystem and economic diversification initiatives, supported by strong local VC and government backing, enhancing their regional market presence.
Read also:
- Nuclear plant revitalized: Artificial intelligence-led demand breathes life into the Great Lakes nuclear facility
- Quipt Home Medical posts enhanced financial results for the third quarter of 2025
- Transit Development Plan for Years 2025 to 2030 has been accepted by Community Transit
- Financial predicament in Ludwigsburg: Notable athlete joins a fresh sports team at the national level
