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On-demand transport firm SWVL moves on Kenya expansion

On-demand transport firm SWVL moves on Kenya expansion

Company outlines strategy to use US$15-million from latest series funding.

On-demand transport company SWVL has officially launched in Nairobi, with a US$15-million war chest to expand their services in Kenya.

The launch comes after the company received US$42-million in Series B funding, led by BECO Capital and Sweden's Vostok New Ventures.

"Kenya is a market with a need for a stable solution for the perennial traffic snarl ups and SWVL believes that we can be of great benefit to the local consumer and the transport sector as a whole," said SWVL co-founder and chief executive officer, Mostafa Kandil.

The service allows users to book their spot in SWVL buses on various routes and pay for the service in a predictable model. The buses are operated by third party owners.

Apart from introducing new routes, the company will also use the money to expand their fleet, offering employment opportunities to Kenyans.

"I believe the potential for growth and value creation is tremendous and given the different entities providing varied solutions, we are looking to fill a gap that has yet to be sufficiently covered by what is already available. That is what has prompted us to expand our route offering to match the convenience of ride-hailing services but at the same time matching the capacity provided by the traditional matatu industry for an even larger customer base than we have before," said Shivachi Muleji, SWVL General Manager for Kenya.

The company initially had four routes in their introduction to the country in February 2019 and now has 55 routes across Nairobi.

SWVL plans to add routes and initiate operations beyond the capital.

LittleCab hailing company has introduced its mass transport on-demand service, while Uber is yet to begin its bus transport service announced earlier in the year.

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