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  • March 2022
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Swvl: Smart Mobility for the Masses

By: Krishna Palepu, Esel Çekin and Menna Hassan
  • Format:Print
  • | Language:English
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Abstract

The case focuses on strategy and governance issues at SWVL, a tech-enabled mass mobility marketplace. It describes the journey of CEO and Chairman Mostafa Kendil on his journey from founding to the company’s listing on Nasdaq. Since its founding in Egypt in 2017, Swvl produced a series of great successes with its innovative solution that promised safe, reliable, and affordable mass commuting trips in markets where such a service was unavailable. In a short time, Swvl was able to raise notable amounts in MENA (Middle East and North Africa) investor funds, expand geographically to neighboring and faraway markets, and become the fastest growing unicorn in the region. Expanding the company’s existing regional footprint, Kandil and his team were pursuing their ambition to become the world’s number one mass mobility provider. They worked with Queen's Gambit, a SPAC (Special Purpose Acquisition Company), to take the company public on Nasdaq. They established both statutory and advisory boards that would not only guide the company on its growth plans but also showcase its strong compliance agenda—a priority from the outset.
Once listed, Swvl would become the second and the youngest MENA-based company to ever go public on Nasdaq. With this, Swvl accepted a challenging responsibility: it would have to position itself among well-established U.S. public companies on one hand and overcome the notorious reputation MENA-based companies had for corporate governance on the other. To emerge successful in global financial markets, Swvl had to ensure that its marketplace design was lean enough to allow the company to grow profitably without compromising customer experience on its rides. Swvl also had to assess its expansion strategy, particularly in terms of how fast and how far it could launch in new markets without mishap. Moreover, it had to make sure the company had the right advisory and accountability governance structures that would effectively guide the company on growth, expansion, service delivery, and putting customer safety at the top of the list for all decisions it took.

Keywords

Corporate Governance; Growth and Development Strategy; Initial Public Offering; Innovation and Invention; Business Startups; Transportation Industry; Technology Industry; Middle East; North Africa

Citation

Palepu, Krishna, Esel Çekin, and Menna Hassan. "Swvl: Smart Mobility for the Masses." Harvard Business School Case 122-097, March 2022.
  • Educators

About The Author

Krishna G. Palepu

Accounting and Management
→More Publications

More from the Authors

    • March 2022
    • Faculty Research

    DealShare: Social E-Commerce for the Indian Mass Market

    By: Krishna G. Palepu and Malini Sen
    • November 2021
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    Ant Group (B)

    By: Krishna G. Palepu, Feng Zhu and Susie L. Ma
    • October 2021
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    Yildiz Holding's Corporate Strategy: Managing Diversification for Growth

    By: Juan Alcácer and Esel Çekin
More from the Authors
  • DealShare: Social E-Commerce for the Indian Mass Market By: Krishna G. Palepu and Malini Sen
  • Ant Group (B) By: Krishna G. Palepu, Feng Zhu and Susie L. Ma
  • Yildiz Holding's Corporate Strategy: Managing Diversification for Growth By: Juan Alcácer and Esel Çekin
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