Swvl, a global provider of transformative tech-enabled mass transit solutions, announced that it will make an initial $15 million investment in Argentina. The investment will be used to generate jobs and self-employment opportunities over the next three plus years and further develop Swvl’s research and development capabilities through the creation of an engineering hub in Argentina.
Swvl also intends to collaborate with all interested parties to expand its B2C and B2B operations across Argentina with Swvl’s proprietary technology.
“We are excited to strengthen our strategic commitment to Argentina in collaboration with the Argentinian government, with what we believe is a compelling investment opportunity. Together, we will work to significantly improve mass transit capabilities nationally while creating employment opportunities. In each country and locality in which Swvl operates, we strive to collaborate hand in hand with governments to realize the maximum benefit for all stakeholders involved, and we are confident that our platform, as well as the daily benefits Argentinians will have on their day to day commutes, will have a transformative positive impact in Argentina,” Mostafa Kandil, Swvl Founder and CEO, said.
Swvl’s previously acquired a controlling interest in Viapool, a mass transit platform, founded in Argentina, with a first-mover advantage as the only provider of on-demand bus hailing services in Buenos Aires, Argentina and Santiago and Chile.
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