Mostafa Kandil '15 Achieves Largest Round of Venture Capital Funding in Egypt
Mostafa Kandil '15, co-founder and CEO of Swvl, a mobile app that organizes convenient transportation routes around Egypt at reasonable prices, was recently featured in Forbes Middle East commenting on the $8 million the company raised in its first round of venture capital financing. This is the largest round of funding for a tech startup in Egypt and one of the largest in the Middle East.
“Swvl is on its way to becoming a household name in Egypt and one of the biggest job providers in the country," Kandil told News@AUC. "We are very excited about what the future holds for us as we build the first unicorn in Egypt.”
Kandil and his team are alumni of the AUC Venture Lab, where they participated in cycle 7. With entrepreneurial support and the knowledge and guidance of mentors, the team was able to launch the application before graduating from the cycle. Read more about how SWVL got started here.